Khan v. Lockheed Martin Corporation

Labaton Keller Sucharow serves as Lead Counsel in a securities class action against Lockheed Martin Corporation (Lockheed Martin or the Company) and three of its current and former officers (together with Lockheed Martin, Defendants) alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.  Lockheed Martin is an aerospace and defense company principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services.

The action alleges that during the period of January 23, 2024, through July 21, 2025, 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, the action alleges that Defendants failed to disclose to investors that Lockheed Martin (i) lacked effective internal controls regarding its purportedly risk adjusted contracts including the reporting of its risk adjusted profit booking rate; (ii) lacked effective procedures to perform reasonably accurate comprehensive reviews of program requirements, technical complexities, schedule, and risks; (iii) overstated its ability to deliver on its contract commitments in terms of cost, quality and schedule; and (iv) that, as a result, the Company was reasonably likely to report significant losses.

On October 24, 2025, U.S. District Judge Margaret M. Garnett of the Southern District of New York appointed Labaton Keller Sucharow as Lead Counsel in the action.  In selecting the Firm, Judge Garnett noted that “[c]ourts in this district have recognized Labaton as having ‘substantial experience in the prosecution of securities class actions and the representation of defrauded investors.’”

The case is Khan v. Lockheed Martin Corporation, No. 25-6197 (S.D.N.Y.).  Labaton Keller Sucharow represents Local 705 International Brotherhood of Teamsters Pension Fund and New England Teamsters Pension Fund.