Business Wire | Feb 27, 2021 02:13AM EST

Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Leidos Holdings, Inc. (LDOS) Investigation

Feb. 26, 2021

NEW YORK--(BUSINESS WIRE)--Feb. 26, 2021--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Leidos Holdings, Inc. ("Leidos" or "the Company") (NYSE: LDOS). Investors who purchased Leidos securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/ldos.

The investigation concerns whether Leidos and certain of its officers and/or directors have violated federal securities laws.

On February 16, 2021, Spruce Point Capital Management reported that "Leidos' $1.0 billion levered acquisition of L3Harris' Security Detection and Automation business (SD&A) is experiencing significant problems, including product defects, that increase the likelihood of a material adverse effect." The report continued to allege that Leidos misstated revenue, citing, for example, a $6 million variance between the third quarter 2020 investor presentation and a Form 10-Q, which "raises the possibility that Leidos has booked fake revenue, or is keeping two sets of books." Following this news, Leidos stock dropped $3.41 per share, or roughly 3%, to close at $105.22 on February 16, 2021.

If you are aware of any facts relating to this investigation, or purchased Leidos shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/ldos. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

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CONTACT: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com