|[August 15, 2014]
L-3 Communications Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS --(Business Wire)--
Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor LLP announce that a federal class action lawsuit has been
filed against L-3 Communications Holdings (News - Alert) Inc. ("L-3" or "Company")
(NYSE: LLL) and several officers and directors for acts taken during the
period of April 25, 2013 to July 30, 2014 (the "Class Period").
Based upon he allegations in the class action, the firms are
investigating additional legal claims against the officers and Board of
Directors of L-3. If you are an affected L-3 shareholder and want to
learn more about the lawsuit or join the action, contact Willie Briscoe
at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via
e-mail at firstname.lastname@example.org.
There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain
provisions of the Securities Exchange Act of 1934. Specifically, the
complaint alleges, among other things, that defendants misrepresented
and/or failed to disclose that: a) the Company's operating income was
overstated due to errors related to the improper deferral of cost
overruns on a fixed-price maintenance and logistics support contract; b)
the net sales regarding the fixed-price maintenance and logistics
support contract were overstated; c) L-3 did not have sufficient
internal control over financial reporting; and d) due to the above, the
Company's financial statements were false and misleading at all relevant
times. When the truth seeped into the market L-3's stock plummeted.
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
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