|By Marketwired .||
|August 22, 2014 09:38 PM EDT||
NEW YORK, NY--(Marketwired - August 22, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in L-3 Communications Holdings, Inc. ("L-3" or the "Company") (NYSE: LLL) of the September 30, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against L-3 and certain executives.
A complaint has been filed in the United States District Court of the Southern District of New York on behalf of all persons who purchased or acquired L-3 securities between April 25, 2013 and July 30, 2014, inclusive (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that the Company failed to disclose that L-3's financial statements contained errors related to the improper deferral of cost overruns on a fixed-price maintenance and logistics support contract at the Company's Aerospace Systems segment.
On July 31, 2014, L-3 disclosed an internal review into accounting irregularities at the Company's Aerospace Systems segment. L-3 further disclosed that the Company expects to incur an aggregate pre-tax charge of $84 million against operating income and a related reduction in net sales of approximately $43 million.
Following this news, the price of L-3 stock declined by $14.68, or over 12%, to close at $104.96 on July 31, 2014.
Request more information now by clicking here: www.faruqilaw.com/LLL. There is no cost or obligation to you.
If you invested in L-3 stock or options between April 25, 2013 and July 30, 2014and would like to discuss your legal rights, visit www.faruqilaw.com/LLL. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding L-3's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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