Lockheed Martin(US:LMT) Prnewswireยท2025-09-06 16:18Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Lockheed Martin Corporation due to alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status in a class action lawsuit by September 26, 2025 [2][3]. Group 1: Allegations Against Lockheed Martin - The complaint alleges that Lockheed Martin and its executives made false or misleading statements and failed to disclose significant issues regarding internal controls and risk management related to their contracts [3]. - Specific allegations include the company's inability to perform accurate reviews of program requirements and overstating its ability to meet contract commitments, leading to significant losses [3]. Group 2: Financial Impact and Stock Performance - On October 22, 2024, Lockheed Martin announced $80 million in losses due to higher-than-anticipated costs, resulting in a 6.12% drop in share price to $576.98 [4]. - On January 28, 2025, the company reported pre-tax losses of $1.7 billion, leading to a 9.2% decline in share price to $457.45 [5][6]. - On July 22, 2025, an additional $1.6 billion in pre-tax losses was disclosed, causing a further 10.8% drop in share price to $410.74 [7][8]. Group 3: Legal Proceedings and Investor Actions - The lead plaintiff in the class action will be the investor with the largest financial interest who is typical of class members, and any member can move to serve as lead plaintiff [9]. - Faruqi & Faruqi encourages individuals with information regarding Lockheed Martin's conduct to come forward, including whistleblowers and former employees [9].