An investigation on behalf of current long-term investors in Telos Corporation (NASDAQ:TLS) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 06/01/2022 -- Certain directors of Telos Corporation are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long-term investors in Telos Corporation (NASDAQ: TLS) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: TLS stocks follows a lawsuit filed against Telos Corporation over alleged securities laws violations. The investigation on behalf of current long-term investors in NASDAQ: TLS stocks, concerns whether certain Telos Corporation directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the defendants failed to disclose that 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, that 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, that COVID- and hacking scandal-related headwinds were throwing off the timing for performance of the TSA and CMS contracts and their associated revenues, that as a result, the guidance provided by Defendants was not in fact "conservative", that as a result of the delays, Telos would be forced to dramatically reduce its revenue estimates, and that 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.
Those who purchased shares of Telos Corporation (NASDAQ: TLS) have certain options and should contact the Shareholders Foundation.
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