Core Viewpoint - Lockheed Martin Corporation is facing a class action lawsuit due to allegations of issuing materially false and misleading statements regarding its internal controls and contract commitments, which may lead to significant financial losses for the company [3][4]. Group 1: Allegations - The complaint alleges that Lockheed Martin lacked effective internal controls related to its risk-adjusted contracts, including the reporting of its risk-adjusted profit booking rate [3]. - It is claimed that the company did not have adequate procedures for conducting comprehensive reviews of program requirements, technical complexities, schedules, and risks [3]. - Lockheed Martin is accused of overstating its ability to fulfill contract commitments in terms of cost, quality, and schedule, which could result in significant losses [3]. Group 2: Class Action Details - The class period for the lawsuit is defined as January 23, 2024, to July 21, 2025 [3]. - Shareholders who purchased shares during this period are encouraged to register for the class action, with a deadline set for September 26, 2025 [4]. - Participants will be enrolled in a portfolio monitoring system to receive updates on the case's progress [4]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure that companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].
The Gross Law Firm Reminds Lockheed Martin Corporation Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of September 26, 2025 – LMT