- Cost overruns on a fixed-price maintenance and logistics support contract were inappropriately deferred, resulting in overstatement of operating income.
- The Company’s net sales with respect to the fixed-price maintenance and logistics support contract were overstated.
- The Company lacked adequate internal controls over financial reporting.
Glancy Binkow & Goldberg LLP 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 a class (the “Class”) comprising all 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”). Please contact Lesley Portnoy, Esquire, at (310) 201-9150, or at firstname.lastname@example.org to discuss this matter. If you inquire by email, please include your mailing address, telephone number and number of shares purchased. 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: