Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether the leadership of Lockheed Martin Corporation (“Lockheed Martin”) (NYSE: LMT) breached their fiduciary duties to Lockheed Martin and its shareholders.
Scott+Scott is investigating whether members of Lockheed Martin’s board of directors (the “Board”) made, or caused Lockheed Martin to make, false and/or misleading statements, as well as failed to disclose material adverse facts, about Lockheed Martin’s business, operations, prospects, and financial health. Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether: (1) Lockheed Martin lacked effective internal controls over its risk adjusted contracts, including the reporting of its risk adjusted profit booking rate; (2) Lockheed Martin lacked effective procedures to perform reasonably accurate comprehensive reviews of program requirements, technical complexities, schedule, and risks; (3) Lockheed Martin overstated its ability to deliver on its contractual commitments regarding cost, quality and schedule; (4) as a result, Lockheed Martin was reasonably likely to report significant losses; and (5) as a result, statements about Lockheed Martin’s business, operations, and prospects lacked a reasonable basis.
On July 22, 2025, Lockheed Martin reported lower net earnings of $342 million. On this news, the stock price fell 10.8%.