PHILADELPHIA, March 3, 2022 /PRNewswire/ -- Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities of Telos Corporation ("Telos" or the "Company") (NASDAQ: TLS) between November 19, 2020, and November 12, 2021 (the "Class Period").

If you purchased Telos securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Michael Dell'Angelo at mdellangelo@bm.net or (215) 875-3080 or visit: https://investigations.bergermontague.com/telos-corp/ 

Whistleblowers: Anyone with non-public information regarding Telos is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

Telos, based in Virginia, is an information technology company that develops cybersecurity products, including the ID Trust 360, an FBI-certified digital identity risk platform.

According to a recently filed lawsuit, on an earnings call on November 15, 2021, Telos disclosed that the Company's contracts with the Centers for Medicare and Medicaid Services ("CMS") and U.S. Transportation Security Administration ("TSA") would be delayed, with only the TSA contract commencing in 2022, while the CMS contract was pushed back until after 2022. During the call, senior management acknowledged deficiencies in Telos's past guidance process, stating that "going forward . . . I will guide based on what [we] have a high degree of visibility into at a point in time. And so, you're going to see that in how we guide going forward."

On this news, Telos's stock price fell $6.84 per share – more than 28% – to close at $17.54 per share on November 15, 2021.

Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.

Contacts
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net 

Michael Dell'Angelo, Executive Shareholder
Berger Montague
(215) 875-3080
mdellangelo@bm.net 

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SOURCE Berger Montague