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 | Investigations Dataset

Stanford Foreign Corrupt Practices Act Clearinghouse a Collaboration with Sullivan & Cromwell LLP

Investigations Dataset

 
Investigation into Leidos Holdings' Activities in Undisclosed Countries · Leidos Holdings, Inc.

Information & Summary

Investigation into Leidos Holdings' Activities in Undisclosed Countries

Related FCPA Matter:   Leidos Holdings' Involvement in Undisclosed Countries Information

Information & Summary

Investigation Name:    Investigation into Leidos Holdings' Activities in Undisclosed Countries

Trend:    None

Type of investigation:    Internal, SEC, DOJ

Other Agencies Investigating/Assisting with SEC/DOJ Investigation:    Unknown

Whistleblower:    Unknown

Summary

Leidos Holdings, Inc. is a technology, engineering, and science company that provides services and solutions in the defense, intelligence, civil and health markets, both domestically and internationally. Leidos' stock trades on the New York Stock Exchange under the ticker LDOS.

In its 10-K filed on February 15, 2022, Leidos disclosed that through the company's internal processes, it had discovered in late 2021 activities by its employees, third party representatives and subcontractors, raising concerns related to a portion of the company's international operations. Subsequent to the discovery, Leido initiated an internal investigation with the assistance of external legal counsel, to determine whether the identified conduct may have violated the FCPA. Leidos then self-reported the internal investigation to the DOJ and SEC, and the company said it was cooperating with both agencies.

In its 10-Q filed on November 1, 2022, Leidos disclosed that the company received a grand jury subpoena in September 2022 related to the criminal investigation by the U.S. Attorney’s Office for the Southern District of California in conjunction with the DOJ’s Fraud Division. The subpoena requested documents relating to the conduct at issue in the company's internal investigation. Leidos said it was responding to the subpoena.

In its 10-Q filed on May 2, 2023, Leidos said that a former employee who had been terminated at the outset of the investigation had been indicted in February 2023 on wire fraud and other charges in the U.S. District Court in the Southern District of California. The charges were subsequently dismissed when the former employee died.

In its 10-K filed on February 11, 2025, Leidos disclosed that the DOJ had informed the company in December 2024 that the agency had closed its investigation with no further action.

The SEC investigation is ongoing.

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