(TLS) DEADLINE: Did You Suffer a Substantial Loss? Contact Johnson Fistel About Leading Telos Corporation Class Action Lawsuit
SAN DIEGO- Newsfile—February 7, 2022
Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Telos Corporation (“Telos” or the “Company”) (NASDAQ: TLS) who purchased Telos common stock between November 19, 2020 and November 12, 2021, both dates inclusive (the “Class Period”). To serve as lead plaintiff in this class action, you must move the Court no later than April 8, 2022.
What actions may I take at this time? If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number. Additionally, you can:
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/TelosCorporation
or [Click here to join this action]. There is no cost or obligation to you.
The Class Action alleges that, during the Class Period, Defendants made materially false and misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) the TSA and CMS contracts, which constituted a majority of the Company’s future revenues, were not on track to commence as represented at the end of 2021 and in 2022; (2) Defendants lacked a reasonable basis and sufficient visibility to provide and affirm the Company’s 2021 guidance in the face of the uncertainty surrounding the TSA and CMS contracts; (3) COVID- and hacking scandal-related headwinds were throwing off the timing for performance of the TSA and CMS contracts and their associated revenues; (4) as a result, the guidance provided by Defendants was not in fact “conservative”; (5) as a result of the delays, Telos would be forced to dramatically reduce its revenue estimates; and (6) as a result of the foregoing, Defendants’ statements about Telos’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
A lead plaintiff will act on behalf of all other class members in directing the Telos class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Telos class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/TelosCorporation
or [Click here to join this action]. There is no cost or obligation to you.