Lockheed Martin Securities Lawsuit Dismissed
Bethesda, MD, 09-JAN-04 --
Lockheed Martin Corporation (NYSE: LMT) announced today that the United States District Court for the Central District of California in Los Angeles has dismissed a private class action securities lawsuit filed against the Corporation and certain of its officers and directors. The lawsuit, Carole Kops et al. v. Lockheed Martin Corporation et al., CV-99-6171-MRP(RNBx) was filed on June 16, 1999, and alleged that the defendants violated the Securities and Exchange Act of 1934 by misrepresenting to the public the financial condition of Lockheed Martin Corporation during the period from January 28, 1999 to June 9, 1999. The lawsuit was dismissed when plaintiffs' counsel, with the approval of the lead plaintiff and the two class representatives, determined not to pursue the lawsuit. Plaintiffs' counsel made this determination after reviewing documents produced by Lockheed Martin and securities analysts who followed Lockheed Martin, as well as publicly available information bearing on the facts and circumstances of the case, and after consulting with experts to assist in an analysis of issues bearing on the elements of the case. The dismissal is without prejudice as to the named plaintiff, lead plaintiff, class representatives, and the class members.