According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- the TSA and CMS contracts, which constituted a majority of Telos’ future revenues, were not on track to commence as represented at the end of 2021 and in 2022;
- defendants lacked a reasonable basis and sufficient visibility to provide and affirm Telos’ 2021 guidance in the face of the uncertainty surrounding the TSA and CMS contracts;
- COVID- and hacking scandal-related headwinds were throwing off the timing for performance of the TSA and CMS contracts and their associated revenues;
- as a result, the guidance provided by Defendants was not in fact “conservative”;
- as a result of the delays, Telos would be forced to dramatically reduce its revenue estimates; and
- 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.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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