Robbins Geller Rudman & Dowd LLP Announce Proposed Settlement of Class Action in the L3 Securities Litigation

SAN DIEGO--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the L3 Securities Litigation.

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

ZUBAIR PATEL, Individually and on Behalf of All Others Similarly Situated, Plaintiff,

vs.

L-3 COMMUNICATIONS HOLDINGS, INC., et al., Defendants.

Civil Action No. 1:14-cv-06038-VEC
(Consolidated)

CLASS ACTION

SUMMARY NOTICE

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF L-3 COMMUNICATIONS HOLDINGS, INC. (NOW KNOWN AS L3 TECHNOLOGIES, INC.) (“L3”) DURING THE PERIOD FROM JANUARY 30, 2014, THROUGH AND INCLUDING JULY 30, 2014

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on August 10, 2017, at 2:00 p.m. EDT, before the Honorable Valerie E. Caproni, United States District Judge, at the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, New York, New York, for the purpose of determining: (1) whether the proposed Settlement of the claims in the Litigation for the principal amount of $34,500,000, plus interest, should be approved by the Court as fair, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice; (3) whether the Plan of Allocation of Settlement proceeds is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys’ fees and expenses and Lead Plaintiffs’ expenses in connection with this Litigation should be approved. Lead Counsel will request attorneys’ fees of no greater than 25% of the Settlement Fund plus expenses, including those of the Lead Plaintiffs, not to exceed $610,000.

IF YOU PURCHASED OR OTHERWISE ACQUIRED L3 COMMON STOCK DURING THE PERIOD FROM JANUARY 30, 2014 THROUGH AND INCLUDING JULY 30, 2014, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release form, you may obtain copies by writing to L3 Securities Litigation, Claims Administrator, c/o Garden City Group, LLC, P.O. Box 9349, Dublin, OH 43017-4249, or on the internet at www.L3Technologiessecuritieslitigation.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail or online no later than July 29, 2017, establishing that you are entitled to recovery. You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, to L3 Securities Litigation, Claims Administrator, c/o Garden City Group, LLC, P.O. Box 9349, Dublin, OH 43017-4249, postmarked by July 21, 2017.

Any objection to the Settlement, the Plan of Allocation, or the fee and expense application shall be filed with the Court on or before July 21, 2017, and also must be received, not simply postmarked, by the following recipients no later than July 21, 2017:

Counsel for Lead Plaintiffs:

ELLEN GUSIKOFF STEWART
ROBBINS GELLER RUDMAN & DOWD LLP
655 West Broadway, Suite 1900
San Diego, CA 92101

Counsel for L3:

MICHAEL J. GARVEY
DAVID ELBAUM
SIMPSON THACHER & BARTLETT LLP
425 Lexington Avenue
New York, NY 10017

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact counsel for Lead Plaintiffs at the address listed above.

DATED: March 10, 2017

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

Contacts

Robbins Geller Rudman & Dowd LLP
Rick Nelson, 1-800-449-4900