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 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 the 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, [phone], or via email at [e-mail], or Patrick Powers at Powers Taylor LLP, toll free [phone], or via e-mail at [e-mail]. 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.

The 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.

Powers 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.