Telos Corp. Company News: Berger Montague Investigates Securities Fraud Allegations Against Telos Corp. (NASDAQ: TLS); Lead Plaintiff Deadline is April 8, 2022
PHILADELPHIA, March 3, 2022 – Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities of Telos Corporation (“Telos” or the “Company”) (NASDAQ: TLS) between November 19, 2020 and November 12, 2021 (the “Class Period”).
If you purchased Telos securities during the Class Period, would like to discuss Berger Montague’s investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at [email protected] or (215) 875-3015, or Michael Dell’Angelo at [email protected] or (215) 875-3080 or visit: https://investigations.bergermontague.com/telos-corp/.
Whistleblowers: Anyone with non-public information regarding Telos is encouraged to confidentially assist Berger Montague’s investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Telos, based in Virginia, is an information technology company that develops cybersecurity products, including the ID Trust 360, an FBI-certified digital identity risk platform.
According to a recently filed lawsuit, on an earnings call on November 15, 2021, Telos disclosed that the Company’s contracts with the Centers for Medicare and Medicaid Services (“CMS”) and U.S. Transportation Security Administration (“TSA”) would be delayed, with only the TSA contract commencing in 2022, while the CMS contract was pushed back until after 2022. During the call, senior management acknowledged deficiencies in Telos’s past guidance process, stating that “going forward . . . I will guide based on what [we] have a high degree of visibility into at a point in time. And so, you’re going to see that in how we guide going forward.”
On this news, Telos’s stock price fell $6.84 per share – more than 28% – to close at $17.54 per share on November 15, 2021.