Lockheed Martin(US:LMT) Globenewswire·2025-09-15 19:59Core 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 losses for the company [3][4]. Summary by Sections Class Period and Allegations - The class period for the lawsuit is from January 23, 2024, to July 21, 2025 [3]. - Allegations include: - Lack of effective internal controls related to risk-adjusted contracts and profit booking [3]. - Inadequate procedures for comprehensive reviews of program requirements and risks [3]. - Overstatement of the company's ability to meet contract commitments regarding cost, quality, and schedule [3]. - Likelihood of reporting significant losses due to the aforementioned issues [3]. - Misleading positive statements about the company's business and operations [3]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by September 26, 2025, to potentially become lead plaintiffs [4]. - Registration provides access to portfolio monitoring software for status updates throughout the case [4]. 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 companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [5].