Defendant Name: L3 Technologies, Inc.

Defendant Type: Public Company

Document Reference: 2017-5

Document Details

Legal Case Name In the Matter of L3 Technologies, Inc.
Document Name SEC Charges Government Contractor with Inadequate Controls and Books and Records Violations
Document Date 11-Jan-2017
Document Format Administrative Proceeding
File Number 3-17769
AAER 3844
Allegation Type Issuer Reporting and Disclosure
Document Summary 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.

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Cooperation Before the Resolution

Related Documents:

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."

Related Actions:

In the Matter of David Pruitt, CPA
David Pruitt
In the Matter of Mark Wentlent
Mark Wentlent