RADNOR, Pa., Aug. 20, 2014 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action has been filed against L-3 Communications Holdings, Inc. (NYSE: LLL) ("L-3 Communications" or "the Company") on behalf of purchasers of the Company's common stock between April 25, 2013 and July 30, 2014 ("the Class Period").
L-3 Communications shareholders may, no later than September 30, 2014 , move the Court for appointment as a lead plaintiff of the Class. Shareholders who wish to discuss this action and their options are encouraged to contact Kessler Topaz Meltzer & Check, LLP ( Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706.
For additional information about this lawsuit, or to request information about this action online, please visit http://www.ktmc.com/case/L3Communications.
According to the Complaint, L-3 Communications is a prime contractor in aerospace systems and national security solutions. L-3 Communications also provides a broad range of communication and electronic systems, and products used on military and commercial platforms.The Complaint alleges that, throughout the Class Period, the defendants made a series of materially false and misleading statements about the Company's accounting and financial position. Specifically, the Complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that: (1) L-3 Communications' financial statements contained errors related to the improper deferral of cost overruns on a fixed-price maintenance and logistics support contract resulting in overstatement of operating income; (2) net sales with respect to the fixed-price maintenance and logistics support contract were overstated; (3) the Company lacked adequate internal controls over financial reporting; and (4) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.