Costa Brava files injunction to reconstitute Telos board, stop sale of company

By Lisa Kerner

Charlotte, N.C., Feb. 16 - Telos Corp. shareholders Costa Brava and Wynnefield Partners filed a motion for preliminary injunction against the company seeking to enjoin it from pursing a sale of Telos "outside the ordinary course of business."

The shareholders filed the injunction relative to a lawsuit pending in the Circuit Court for Baltimore City in the State of Maryland against Telos and certain executive officers, according to a schedule 13D filing with the Securities and Exchange Commission.

Costa Brava and its affiliates are seeking to "reconstitute" the company's board of directors through the election of new class D directors.

Costa Brava and the Wynnefield Parties hold 15.9% of the company's stock.

Telos is an IT solutions and services provider based in Ashburn, Va.

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