An investigation for investors in NYSE:LLL shares was announced over potential breaches of fiduciary duties by certain directors at L-3 Communications Holdings.
Investors who purchased shares of L-3 Communications Holdings, Inc. (NYSE:LLL) and currently hold any of those L-3 Communications Holdings, Inc. (NYSE:LLL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain L-3 Communications Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.
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 4, 2014 a lawsuit was filed over alleged violations of Federal Securities Laws by L-3 Communications Holdings, Inc. The plaintiff claimed that L-3 Communications Holdings, Inc. overstated its net sales and inappropriately deferred contract cost overruns between April 25, 2013 and July 30, 2014.
In March 2016 the court granted defendants’ motion to dismiss as to all claims against the individual defendants without leave to replead and denied defendants’ motion to dismiss as to L-3 Communications Holdings Inc.
On July 25, 2016, NYSE:LLL shares closed at $147.45 per share.
Those who purchased NYSE:LLL shares 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