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Long-Pending Investor Litigation Against Telos Corporation Reaches Full ConclusionASHBURN, Va., May 15, 2020 (GLOBE NEWSWIRE) -- Telos® Corporation, a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, today announced the full conclusion of litigation commenced in 2005 by the two plaintiffs, Costa Brava Partnership III, L.P. and Wynnefield Partners Small Cap Value, L.P. While the circuit court found in favor of Telos, dismissing all remaining claims against the defendants on December 18, 2019, Costa Brava noted an appeal of the circuit court’s final judgment to the Court of Special Appeals of Maryland on January 17, 2020. Co-Plaintiff Wynnefield elected not to join Costa Brava in its appeal. On May 12, 2020, Costa Brava filed a notice dismissing its appeal, prior to any briefing by the parties. The dismissal of the appeal by Costa Brava fully concludes this long-pending litigation. “We are pleased Costa Brava has elected to dismiss its appeal and finally put this case to rest,” said John B. Wood, CEO and chairman, Telos. “Throughout the course of this litigation, we have maintained an unwavering focus on providing value for all shareholders and customers alike by delivering innovative cyber, cloud and enterprise security solutions to keep pace with the threats of tomorrow.” More information about the parties involed in the litigation, its course over the past fourteen years, and the circuit court’s recent rulings, is available through the company’s SEC filings, including its Form 8-K filed December 23, 2019. About Telos Corporation Contact:
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