News from Telos Corp. : Berger Montague investigates securities fraud allegations against Telos Corp. (TLS); The deadline for the lead applicant is April 8, 2022 | 2022-03-11 | Press Releases
Philadelphia, Pa.–(Newsfile Corp. – March 11, 2022) – Shepherd Montague investigating allegations of securities fraud 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, wish to discuss Berger Montague’s investigation, or have any questions regarding 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 nonpublic information about Telos is encouraged to confidentially participate in Berger Montague’s investigation or take advantage of the SEC’s 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.
Virginia-based Telos is an information technology company that develops cybersecurity products, including ID Trust 360, an FBI-certified digital identity risk platform.
According to a recently filed lawsuit, during an earnings call on Nov. 15, 2021, Telos disclosed that the company’s contracts with the Centers for Medicare and Medicaid Services (“CMS”) and the U.S. Transportation Security Administration (” TSA”) would be delayed, with only the TSA contract starting in 2022, while the CMS contract was pushed back until after 2022. During the call, senior management acknowledged flaws in the past orientation process of Telos, stating that “in the future… [we] have a high degree of visibility at any given time. And so, you’re going to see that in how we’re guiding going forward.”
On this news, Telos stock price fell $6.84 per share – more than 28% – to close at $17.54 per share on November 15, 2021.
Shepherd Montaguewith offices in Philadelphia, Minneapolis, Washington, D.C. and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five decades and acts as lead counsel before the courts. across the United States.
Andrew Abramowitz, Senior Counsel
Michael Dell’Angelo, executive shareholder
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