May 25, 2016 (Shareholders Foundation) - An investigation on behalf of current or former participants in the L-3 Communications Holdings, Inc. (NYSE:LLL Employee Retirement Savings Plan concerning potential Breaches of Fiduciary Duty by the plan administrator was announced.

According to the investigation by a law firm under the federal Employee Retirement Income Security Act (ERISA) current or former participants in the L-3 Communications Holdings, Inc. (NYSE:LLL Employee Retirement Savings Plan may be eligible to file an ERISA complaint for putting stock options at risk if they can prove that the plan administrator violated its fiduciary duty to them.

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.