GRABAR LAW OFFICE INVESTIGATES POTENTIAL SHAREHOLDER ACTION ON BEHALF OF CURRENT SHAREHOLDERS OF TELOS CORPORATION (NASDAQ: TLS)
A securities class action has been filed against Telos Corporation. Current Telos shareholders who have held shares of Telos stock since at least November 19, 2020, can seek corporate reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate. $TLS
It is alleged that Telos and certain of its executive officers made materially false and misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, it was not disclosed that: (1) the TSA and CMS contracts which the company touted, were not on track to commence as represented at the end of 2021 and in 2022; (2) there was no reasonable basis 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 issues displaced the likely timing and revenue of TSA and CMS contracts; (4) as a result, the guidance, revenue estimates, and statements about Telos’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
Current Telos shareholders who have held shares of the Company’s stock since November 19, 2020, can seek corporate reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate.
Unlike a class action, brought on behalf of damaged investors, a shareholder derivative action is an action brought by a shareholder of a public company on behalf of and for the benefit of the company itself against the directors and/or officers of that company. In a derivative action, shareholders “step into the shoes” of the directors and officers of a company and bring litigation that the board would be unwilling to pursue on its own.
If you would like to learn more about this matter at no cost to you, please fill out the form provided or contact us at firstname.lastname@example.org or call 267-507-6085. $TLS