NEW ORLEANS, La., Aug. 23, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 30, 2014 to file lead plaintiff applications in a securities class action lawsuit against L-3 Communications Holdings Inc. (NYSE:LLL), if they purchased the Company's securities during the period between January 30, 2014 and July 30, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of L-3 and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 30, 2014.
About the Lawsuit
L-3 and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On July 31, 2014, L-3 disclosed accounting irregularities linked to an aerospace logistic support contract related primary to a Defense Department contract, with overstated sales, cost overruns that were inappropriately deferred, and alleged misconduct leading to the firing of four employees and resignation of another employee. The Company also disclosed that it would take an initial $84 million pretax charge as it cut its full-year profit guidance.
On this news, the price of L-3's shares plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.