Lockheed Martin Corporation Investigation
The law firm of Kirby McInerney LLP is investigating potential claims against Lockheed Martin Corporation (“Lockheed Martin” or the “Company”) (NYSE: LMT). The investigation concerns whether Lockheed Martin has violated the federal securities laws and/or engaged in other unlawful business practices.
Lockheed Martin is an American aerospace, arms, defense, information security, and technology corporation with worldwide interests.
On March 16, 2022, Bloomberg reported that the U.S. Department of Defense will request 61 Lockheed F-35 fighter jets in its next budget, 33 fewer than previously planned. Bloomberg reported that the proposed reduction follows the “flawed execution of a crucial upgrade of [the F-35’s] software and hardware capabilities that’s estimated to cost $14 billion.” On this news, Lockheed Martin’s shares declined by $27.33 per share, , from $ 448.67 per share to close at $421.34 per share on March 16, 2022.