L3 $34.5M Investor Suit Settlement Gets Preliminary OK

Law360, Washington (March 13, 2017, 2:40 PM EDT) -- A Manhattan federal judge on Friday granted preliminary approval of a $34.5 million settlement between L3 Technologies Inc. and a class of shareholders that accused the company of securities fraud.

U.S. District Judge Valerie E. Caproni granted preliminary approval of the deal between L3, formerly L-3 Communications Holdings Inc., and shareholders in a suit related to the company's 2014 disclosure of an $84 million accounting error in its aerospace segment that sent its stock tumbling by roughly 12 percent on the day of the announcement....
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