Leidos Holdings, Inc. Investors: Company Investigated by the Portnoy Law Firm

LOS ANGELES, Feb. 25, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Leidos Holdings, Inc. ("Leidos" or the "Company") (NYSE: LDOS) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

On February 16, 2021, it was reported by Spruce Point Capital Management that “Leidos’ $1.0 billion levered acquisition of L3Harris’ Security Detection and Automation business (SD&A) is experiencing significant problems, including product defects, that increase the likelihood of a material adverse effect.” This report continued to allege that Leidos misstated its revenue, citing, for example, a $6 million variance between the third quarter 2020 investor presentation and a Form 10-Q, which “raises the possibility that Leidos has booked fake revenue, or is keeping two sets of books.” On February 16, 2021, Leidos stock dropped $3.41 per share, or roughly 3%, to close at $105.22 on following this news.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com 

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