LEIDOS HOLDINGS INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Leidos Holdings, Inc. - LDOS

NEW ORLEANS, Feb. 18, 2022 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Leidos Holdings, Inc. (NYSE: LDOS).

On February 23, 2021, the Company disclosed disappointing 4Q and full year 2020 financial results, including only $163 million in sales (or $326 million annualized), falling well short of the projected $500 million sales, and expected cash flow of $850 million, well below analyst estimates of $1.083 billion. Then, on February 15, 2022, the Company filed its 10-K, disclosing that in late 2021 it had discovered activities by its employees, third party representatives, and subcontractors that raised concerns regarding some of its international operations. The Company subsequently initiated an internal investigation to identify potential violations of the Foreign Corrupt Practices Act and self-reported the internal investigation to the DOJ and SEC.

KSF's investigation is focusing on whether Leidos' officers and/or directors breached their fiduciary duties to the Company's shareholders or otherwise violated state or federal laws. 

If you have information that would assist KSF in its investigation, or have been a long-term holder of Leidos shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ldos/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163

SOURCE Kahn Swick & Foti, LLC

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