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Business Wire
6 days ago
- Business
- Business Wire
LMT INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Lockheed Martin Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)-- Robbins Geller Rudman & Dowd LLP Lockheed Martin class action lawsuit. Captioned Khan v. Lockheed Martin Corporation, No. 25-cv-06197 (S.D.N.Y.), the Lockheed Martin class action lawsuit charges Lockheed Martin as well as certain of Lockheed Martin's top current and former executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Lockheed Martin class action lawsuit, please provide your information here: CASE ALLEGATIONS: Lockheed Martin is an aerospace and defense company that engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. The Lockheed Martin class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Lockheed Martin lacked effective internal controls regarding its purportedly risk adjusted contracts including the reporting of its risk adjusted profit booking rate; (ii) Lockheed Martin lacked effective procedures to perform reasonably accurate comprehensive reviews of program requirements, technical complexities, schedule, and risks; (iii) Lockheed Martin overstated its ability to deliver on its contract commitments in terms of cost, quality, and schedule; and (iv) as a result, Lockheed Martin was reasonably likely to report significant losses. The Lockheed Martin class action lawsuit further alleges that on October 22, 2024, Lockheed Martin announced it was forced to recognize losses of $80 million on a classified program at Lockheed Martin's Aeronautics business segment 'due to higher than anticipated costs to achieve program objectives.' Lockheed Martin also announced it had recognized a reach-forward loss in its Rotary and Mission Systems segment 'as a result of additional quantity ordering risk identified on fixed-price options,' the complaint alleges. On this news, the price of Lockheed Martin stock fell more than 6%, according to the Lockheed Martin class action lawsuit. Then, on January 28, 2025, the Lockheed Martin class action lawsuit alleges that Lockheed Martin announced it was forced to record pre-tax losses of $1.7 billion associated with classified programs at its Aeronautics and Missiles and Fire Control business, explaining that '[a]s a result of performance trends' and 'in contemplation of near-term program milestones,' Lockheed Martin had 'performed a comprehensive review of the program requirements, technical complexities, schedule, and risks' based on which it recognized $555 million of losses in its Aeronautics program. On this news, the price of Lockheed Martin stock fell more than 9%, according to the complaint. Finally, on July 22, 2025, Lockheed Martin disclosed it was forced to record an additional $1.6 billion in pre-tax losses on classified programs, including $950 million in losses related to its Aeronautics Classified program due to 'design, integration, and test challenges, as well as other performance issues,' the complaint further alleges. According to the Lockheed Martin class action lawsuit, Lockheed Martin also recorded $570 million in losses on its Canadian Maritime Helicopter Program due in part to providing 'additional mission capabilities, enhanced logistical support, fleet life extension, and revised expectations regarding flight hours.' On this news, the price of Lockheed Martin stock fell nearly 11%, according to the complaint. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Lockheed Martin securities during the Class Period to seek appointment as lead plaintiff in the Lockheed Martin class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Lockheed Martin class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Lockheed Martin class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Lockheed Martin class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes.
Business Wire
31-07-2025
- Business
- Business Wire
LMT INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Lockheed Martin Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP Lockheed Martin class action lawsuit. Captioned Khan v. Lockheed Martin Corporation, No. 25-cv-06197 (S.D.N.Y.), the Lockheed Martin class action lawsuit charges Lockheed Martin and certain of Lockheed Martin's top current and former executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Lockheed Martin class action lawsuit, please provide your information here: CASE ALLEGATIONS: Lockheed Martin is an aerospace and defense company that engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. The Lockheed Martin class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Lockheed Martin lacked effective internal controls regarding its purportedly risk adjusted contracts including the reporting of its risk adjusted profit booking rate; (ii) Lockheed Martin lacked effective procedures to perform reasonably accurate comprehensive reviews of program requirements, technical complexities, schedule, and risks; (iii) Lockheed Martin overstated its ability to deliver on its contract commitments in terms of cost, quality, and schedule; and (iv) as a result, Lockheed Martin was reasonably likely to report significant losses. The Lockheed Martin class action lawsuit further alleges that on October 22, 2024, Lockheed Martin announced it was forced to recognize losses of $80 million on a classified program at Lockheed Martin's Aeronautics business segment 'due to higher than anticipated costs to achieve program objectives.' Lockheed Martin also announced it had recognized a reach-forward loss in its Rotary and Mission Systems segment 'as a result of additional quantity ordering risk identified on fixed-price options,' the complaint alleges. On this news, the price of Lockheed Martin stock fell more than 6%, according to the Lockheed Martin class action lawsuit. Then, on January 28, 2025, the Lockheed Martin class action lawsuit alleges that Lockheed Martin announced it was forced to record pre-tax losses of $1.7 billion associated with classified programs at its Aeronautics and Missiles and Fire Control business, explaining that '[a]s a result of performance trends' and 'in contemplation of near-term program milestones,' Lockheed Martin had 'performed a comprehensive review of the program requirements, technical complexities, schedule, and risks' based on which it recognized $555 million of losses in its Aeronautics program. On this news, the price of Lockheed Martin stock fell more than 9%, according to the complaint. Finally, on July 22, 2025, Lockheed Martin disclosed it was forced to record an additional $1.6 billion in pre-tax losses on classified programs, including $950 million in losses related to its Aeronautics Classified program due to 'design, integration, and test challenges, as well as other performance issues,' the complaint further alleges. According to the Lockheed Martin class action lawsuit, Lockheed Martin also recorded $570 million in losses on its Canadian Maritime Helicopter Program due in part to providing 'additional mission capabilities, enhanced logistical support, fleet life extension, and revised expectations regarding flight hours.' On this news, the price of Lockheed Martin stock fell nearly 11%, according to the complaint. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Lockheed Martin securities during the Class Period to seek appointment as lead plaintiff in the Lockheed Martin class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Lockheed Martin class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Lockheed Martin class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Lockheed Martin class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
Business Wire
29-07-2025
- Business
- Business Wire
DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Lockheed Martin
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Lockheed Martin Corporation ('Lockheed Martin' or the 'Company') (NYSE: LMT) and reminds investors of the September 26, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose (1) that Lockheed Martin lacked effective internal controls regarding its purportedly risk adjusted contracts including the reporting of its risk adjusted profit booking rate; (2) that Lockheed Martin lacked effective procedures to perform reasonably accurate comprehensive reviews of program requirements, technical complexities, schedule, and risks; (3) that Lockheed Martin overstated its ability to deliver on its contract commitments in terms of cost, quality and schedule; (4) that, as a result, the Company was reasonably likely to report significant losses; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On October 22, 2024, before the market opened, Lockheed Martin announced it was forced to recognize losses of $80 million on a classified program at the Company's Aeronautics business segment 'due to higher than anticipated costs to achieve program objectives.' The Company also announced it had recognized a reach-forward loss in its Rotary and Mission Systems segment 'as a result of additional quantity ordering risk identified on fixed-price options.' On this news, the Company's share price fell $37.63 or 6.12% to close at $576.98 on October 22, 2024, on unusually heavy trading volume. Then, on January 28, 2025, before the market opened, Lockheed Martin announced it was forced to record pre-tax losses of $1.7 billion associated with classified programs at its Aeronautics and Missiles and Fire Control business. The Company explained 'as a result of performance trends' and 'in contemplation of near-term program milestones,' it had 'performed a comprehensive review of the program requirements, technical complexities, schedule, and risks' based on which it recognized $555 million of losses in its Aeronautics program. The Company further reported additional losses of approximately $1.3 billion in its Missiles and Fire Control business due to, among other things, the 'future requirements of the program, discussions with the customer and suppliers.' As a result, the Company's net earnings in 2024 were $5.3 billion, or $22.31 per share, compared to $6.9 billion, or $27.55 per share, in 2023. On this news, the Company's share price fell $46.24 or 9.2% to close at $457.45 on January 28, 2025 on unusually heavy trading volume. Then, on July 22, 2025, before the market opened, Lockheed Martin disclosed it was forced to record an additional $1.6 billion in pre-tax losses on classified programs, including $950 million in losses related to its Aeronautics Classified program due to 'design, integration, and test challenges, as well as other performance issues.' The Company also recorded $570 million in losses on its Canadian Maritime Helicopter Program due in part to providing 'additional mission capabilities, enhanced logistical support, fleet life extension, and revised expectations regarding flight hours.' The Company further recorded a $95 million charge related to its Turkish Utility Helicopter Program due to the 'current status of the program.' As a result, the Company reported sharply lower net earnings of $342 million, or $1.46 per share, including $1.6 billion of program losses and $169 million of other charges. On this news, the Company's share price fell $49.79 or 10.8%, to close at $410.74 on July 22, 2025, on unusually heavy trading volume. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Lockheed Martin's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Lockheed Martin class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Business Wire
28-07-2025
- Business
- Business Wire
LMT CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit On Behalf Of Lockheed Martin Corporation Investors
LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP ('GPM'), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Khan v. Lockheed Martin Corporation, et al., Case No. 1:25-cv-06197, on behalf of persons and entities that purchased or otherwise acquired Lockheed Martin Corporation ('Lockheed Martin' or the 'Company') (NYSE: LMT) securities between , inclusive (the 'Class Period'). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the 'Exchange Act'). Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action. IF YOU SUFFERED A LOSS ON YOUR LOCKHEED MARTIN INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS. What Happened? On October 22, 2024, before the market opened, Lockheed Martin announced it was forced to recognize losses of $80 million on a classified program at the Company's Aeronautics business segment 'due to higher than anticipated costs to achieve program objectives.' The Company also announced it had recognized a reach-forward loss in its Rotary and Mission Systems segment 'as a result of additional quantity ordering risk identified on fixed-price options.' On this news, the Company's share price fell $37.63 or 6.12% to close at $576.98 on October 22, 2024, on unusually heavy trading volume. Then, on January 28, 2025, before the market opened, Lockheed Martin announced it was forced to record pre-tax losses of $1.7 billion associated with classified programs at its Aeronautics and Missiles and Fire Control business. The Company explained 'as a result of performance trends' and 'in contemplation of near-term program milestones,' it had 'performed a comprehensive review of the program requirements, technical complexities, schedule, and risks' based on which it recognized $555 million of losses in its Aeronautics program. The Company further reported additional losses of approximately $1.3 billion in its Missiles and Fire Control business due to, among other things, the 'future requirements of the program, discussions with the customer and suppliers.' As a result, the Company's net earnings in 2024 were $5.3 billion, or $22.31 per share, compared to $6.9 billion, or $27.55 per share, in 2023. On this news, the Company's share price fell $46.24 or 9.2% to close at $457.45 on January 28, 2025 on unusually heavy trading volume. Then, on July 22, 2025, before the market opened, Lockheed Martin disclosed it was forced to record an additional $1.6 billion in pre-tax losses on classified programs, including $950 million in losses related to its Aeronautics Classified program due to 'design, integration, and test challenges, as well as other performance issues.' The Company also recorded $570 million in losses on its Canadian Maritime Helicopter Program due in part to providing 'additional mission capabilities, enhanced logistical support, fleet life extension, and revised expectations regarding flight hours.' The Company further recorded a $95 million charge related to its Turkish Utility Helicopter Program due to the 'current status of the program.' As a result, the Company reported sharply lower net earnings of $342 million, or $1.46 per share, including $1.6 billion of program losses and $169 million of other charges. On this news, the Company's share price fell $49.79 or 10.8%, to close at $410.74 on July 22, 2025, on unusually heavy trading volume. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Lockheed Martin lacked effective internal controls regarding its purportedly risk adjusted contracts including the reporting of its risk adjusted profit booking rate; (2) that Lockheed Martin lacked effective procedures to perform reasonably accurate comprehensive reviews of program requirements, technical complexities, schedule, and risks; (3) that Lockheed Martin overstated its ability to deliver on its contract commitments in terms of cost, quality and schedule; (4) that, as a result, the Company was reasonably likely to report significant losses; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. If you purchased or otherwise acquired Lockheed Martin securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Charles Linehan, Esq., Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: shareholders@ Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook. If you inquire by email, please include your mailing address, telephone number and number of shares purchased. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Reuters
22-07-2025
- Business
- Reuters
Lockheed profit dives 80% on $1.6 billion charge, shares tumble
July 22 (Reuters) - Lockheed Martin (LMT.N), opens new tab reported on Tuesday that its second-quarter profit plunged by about 80%, after the U.S. defense group recorded a pretax loss of $1.6 billion, mainly linked to a classified program within its Aeronautics segment, sending its shares down more than 8%. The company also trimmed its 2025 profit outlook by $1.5 billion or 18% and said it now targets $6.65 billion in operating profit for the year. This new guidance, revised down since the company's last estimate in April, did not include potential impacts from tariffs which have affected other defense companies with international customers. Lockheed's tariff risk is relatively low, as its supply chains and labor are largely domestic, said Brian Mulberry, portfolio manager at Zacks Investment Management. The company's hefty charge stemmed from difficulties with a classified program in its Aeronautics business and international helicopter programs in its Sikorsky unit. Defense contractors are grappling with mounting cost pressures as inflation and supply chain disruptions drive up expenses on long-term programs priced years ago. Many of these contracts — often fixed-price — were negotiated before the post-pandemic surge in labor, material, and component costs, forcing contractors such as Lockheed to absorb overruns. Apart from the $950 million charge on the classified program, Lockheed took a $570 million hit on its work for the Canadian government relating to the procurement of its CH-148 Cyclone maritime helicopters. The Turkish Utility Helicopter Program (TUHP) saw a $95 million loss as well. This charge was due to a restructuring caused by U.S. government sanctions on Turkish entities and persons involved in the program, Taiclet said in a call with analysts. Lockheed is also engaged in a tussle with U.S. tax authorities who assert the company owes an additional $4.6 billion tax bill, executives said, adding they were pursuing a remedy that could include litigation. Additionally, the company provided an update on progress with upgrades on its F-35 jets, saying it had completed hardware integration and released new software on the fleet. Earlier this month, the Pentagon's program office confirmed the final delivery of 72 jets held in long-term storage in 2024. Lockheed's net income in the quarter fell to $342 million, or $1.46 per share from $1.64 billion, or $6.85 per share, a year earlier. Excluding these charges, the group posted an adjusted profit of $7.29 per share, beating an average estimate of $6.44 per share according to data compiled by LSEG. Lockheed missed Wall Street estimates for second-quarter revenue, which came in at $18.16 billion, compared with an average expectation of $18.57 billion.
