The Shareholders Foundation announces that an investor, who purchased shares of L-3 Communications Holdings, Inc. (NYSE:LLL), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by L-3 Communications Holdings, Inc. in connection with certain allegedly false and misleading statements made between April 25, 2013 and July 30, 2014.
Investors who purchased shares L-3 Communications Holdings, Inc. (NYSE:LLL) have certain options and for certain investors are short and strict deadlines running. Deadline: September 30, 2014. NYSE:LLL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of L-3 Communications Holdings, Inc. (NYSE:LLL) common shares between April 25, 2013 and July 30, 2014, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that L-3 Communications Holdings, Inc. overstated its net sales and inappropriately deferred contract cost overruns between April 25, 2013 and July 30, 2014.
L-3 Communications Holdings, Inc. reported that its annual Total Revenue declined from over $13.14 billion in 2012 to over $12.62 billion in 2013 and that its respective Net Income fell from $810.00 million to $778.00 million. Shares of L-3 Communications Holdings, Inc. (NYSE:LLL) grew from $81.39 per share in April 2013 to as high as $126.76 per share in June 2014.
Then on July 31, 2014, L-3 Communications Holdings, Inc. announced that it expects to take a pre-tax charge of $84 million, resulting in a reduction of operating income, as well as a related reduction in net sales of $43 million. Shares of L-3 Communications Holdings, Inc. declined from $119.64 per share on July 30, 2014, to $99.33 per share on July 31, 2014.
On August 15, 2014, NYSE:LLL shares closed at $105.74per share.
Those who purchased shares of L-3 Communications Holdings, Inc. (NYSE:LLL) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com