NYSE
XLS

Exelis Inc.

Shareholder Corporation Litigation

Rigrodsky & Long, P.A. Announces Investigation Of Exelis Inc. (NYSE: XLS) Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Exelis Inc. (“Exelis” or the “Company”) (NYSE: XLS) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Harris Corporation (“Harris”) (NYSE: HRS), in a transaction valued at approximately $4.75 billion.

Under the terms of the agreement, Exelis shareholders will receive $16.625 in cash and 0.1025 of a share of Harris common stock for each share of Exelis common stock.  Based on Harris’s closing stock price on February 5, 2015, Exelis shareholders would have received consideration valued at approximately $23.75 per share.

The investigation concerns whether Exelis’s board of directors failed to adequately shop the Company and obtain the best possible value for Exelis’s shareholders before entering into an agreement with Harris.

If you own the common stock of Exelis and purchased your shares before February 6, 2015, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

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