BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the securities of L-3 Communications Holdings, Inc. (“L-3” or the “Company”) (NYSE:LLL) between April 25, 2013 and July 30, 2014, inclusive (the “Class Period”).
L-3 provides command, control, communications, intelligence, surveillance and reconnaissance (C3ISR) systems, aircraft modernization and maintenance, and national security solutions in the United States and internationally. The Complaint alleges that defendants made false and/or misleading statements or failed to disclose that: (1) cost overruns on a fixed-price maintenance and logistics support contract were inappropriately deferred, resulting in overstatement of operating income; (2) the Company’s net sales with respect to the fixed-price maintenance and logistics support contract were overstated; and (3), the Company lacked adequate internal controls over financial reporting.
If you are a member of the Class described above, you have until September 30, 2014, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.