Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Lockheed Martin Corporation (LMT)

NEW YORK, July 29, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased the securities of Lockheed Martin Corporation (“Lockheed Martin” or the “Company”) (NYSE: LMT) between January 23, 2024 and July 21, 2025, both dates inclusive (the “Class Period”).

The Complaint 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. The Complaint alleges 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.

The Complaint further alleges that 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 Complaint alleges that 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 Complaint further alleges that 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.” The Complaint alleges that 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.
        
According to the Complaint 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.

The Complaint further alleges that 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 Complaint also alleges that 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 Complaint alleges that the Company further recorded a $95 million charge related to its Turkish Utility Helicopter Program due to the “current status of the program.” The Complaint further states that 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.

The Complaint alleges that 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.

Investors who purchased or otherwise acquired shares of Lockheed Martin should contact the Firm prior to the September 26, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

Please visit our website at http://www.gme-law.com for more information about the firm.

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