This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hagens Berman Investigating Alleged Accounting Fraud On Behalf Of L-3 Communications Investors; Invites Information From Persons With Knowledge

Stocks in this article: LLL

Hagens Berman Sobol Shapiro LLP, an investor-rights law firm, is investigating alleged accounting inaccuracies and potential harm to investors of L-3 Communications Holdings Inc. (NYSE: LLL) (“L-3” or “the Company”) and welcomes persons with knowledge of the irregularities as well as investors who purchased L-3 stock and who have sustained significant losses to contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000, emailing L3@hbsslaw.com or visiting http://hb-securities.com/investigations/L3.

According to news published by Wall Street Journal affiliate MarketWatch, on July 31, 2014, L-3 disclosed “accounting irregularities” linked to aerospace and defense contracts running from 2010 to January 2015. The article said the project “overstates sales and cost overruns and alleged ‘misconduct [that] included concealment from L-3’s corporate staff and external auditors.’”

In response, L-3 stated that accounting problems were detected internally and would entail a review of the company’s entire aerospace segment, adding that the problems were isolated.

“We understand L-3 is claiming that the fraud is isolated, but we invite persons with actual knowledge of what was known by senior management to contact us,” said Mr. Kathrein. “Our firm intends to find out exactly what L-3 management knew, and encourages individuals to contact our offices with any information that may help us determine whether a securities fraud class action is appropriate.”

Upon the publishing of the MarketWatch news story, L-3 shares dropped roughly 15 percent on July 31, 2014 from $119.62 per share to $100.29 per share. As of mid-day July 31, 2014, the stock was trading around $101 per share.

Persons with non-public information regarding L-3 should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email L3@hbsslaw.com.

About Hagens Berman

Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in nine cities. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hb-securities.com. Read the firm’s Securities Newsletter at http://www.hb-securities.com/newsletter. The firm’s blog is located at www.meaningfuldisclosure.com.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs