Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 18, 2011 to file lead plaintiff applications in a securities class action lawsuit against Lockheed Martin Corp. ("Lockheed" or the "Company") (NYSE: LMT). The lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of the securities of Lockheed during the period between April 21, 2009 and July 21, 2009, inclusive (the "Class Period").
What You May Do
If you are a Lockheed shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. (neil.rothstein@ksfcounsel.com), toll free at 877-694-9510, or after hours via cell phone 330-860-4092. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by September 18, 2011.
About the Lawsuit
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934.
On July 21, 2009, Lockheed announced its financial results for the second quarter of 2009. Among other things, the Company reported disappointing results in its Information Systems & Global Systems ("IS&GS") division. Following the issuance of the press release, Lockheed held a conference call to discuss the reported earnings and the Company's operations. During the conference call, defendants described the problems facing the IS&GS division and admitted that the Company was not performing according to expectations in that important division.
In response to information that the IS&GS division was not performing according to expectations and had not generated anticipated fee awards, the price of Lockheed common stock declined from $82.11 per share to $75.13 per share on extremely heavy trading volume. Analysts were quick to note that the Company had recently promised increasing growth in the IS&GS division and expressed surprise at the sudden negative news.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts:
Kahn Swick & Foti, LLC
Lewis Kahn, 877-515-1850
KSF
Managing Partner
After hours cell phone: 504-301-7900
lewis.kahn@ksfcounsel.com