Defendant Name: L3 Technologies, Inc.

Defendant Type: Public Company
SIC Code: 3812
CUSIP: 50241310

Initial Case Details

Legal Case Name In the Matter of L3 Technologies, Inc.
First Document Date 11-Jan-2017
Initial Filing Format Administrative Action
File Number 3-17769
Allegation Type Issuer Reporting and Disclosure
AAER 3844

Violations Alleged

Exchange Act
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)

Resolutions

First Resolution Date 11-Jan-2017
Headline Total Penalty and Disgorgement $1,600,000

Related Documents:

2017-5 11-Jan-2017 Press Release--Administrative Proceeding
SEC Charges Government Contractor with Inadequate Controls and Books and Records Violations
On January 11, 2017, the SEC announced a settled order against L3 Technologies Inc. According to the SEC: "L3's Army Sustainment Division (ASD) -- part of L3's Aerospace Systems segment -- improperly recorded $17.9 million in revenue from a contract with the U.S. Army by creating invoices associated with unresolved claims against the U.S. Army that were not delivered when the revenue was recorded." This amounted to violations of accurate books and records and internal accounting control provisions.
34-79772 11-Jan-2017 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On January 11, 2017, the SEC instituted a settled proceeding against L3 Technologies Inc. According to the SEC: "These proceedings arise out of L3's failure to maintain books, records and accounts that accurately reflected the transaction and dispositions of its assets, and for failing to maintain a sufficient system of internal accounting controls."

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