San Diego, CA -- (SBWire) -- 01/03/2017 --An investigation on behalf of investors of General Cable Corporation was announced over potential securities laws violations by General Cable Corporation in connection certain financial statements.
Investors who purchased shares of General Cable Corporation (NYSE:BGC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of General Cable Corporation (NYSE:BGC) concerning whether a series of statements by General Cable Corporation (NYSE:BGC regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On September 22, 2014, General Cable Corporation disclosed some of its staff had issued payments to officials of Angola government-owned public utilities, which some considered a violation of Foreign Corrupt Practices Act of 1977 ("FCPA").
On February 10, 2016, General Cable Corporation revealed that it may have incurred more than $33 million in profits through transactions potential in violation to the FCPA.
On December 29, 2016, General Cable Corporation revealed that the Company has agreed to pay $82.3 million to resolve the U.S. government's investigation into inappropriate payments to government officials in Egypt, Angola, Bangladesh, China, Indonesia and Thailand.
The U.S. Department of Justice stated "[b]etween 2002 and 2013, General Cable subsidiaries paid approximately $13 million to third-party agents and distributors, a portion of which was used to make unlawful payments to obtain business, ultimately netting the company approximately $51 million in profits."
Those who purchased shares of General Cable Corporation have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
General Cable Corporation (NYSE:BGC) Shareholder Alert: Investigation over Potential Violations of Securities Laws
An investigation for investors in General Cable Corporation (NYSE:BGC) shares over potential securities laws violations by General Cable Corporation NYSE:BGC was announced and General Cable Corporation NYSE:BGC stockholders should contact the Shareholders Foundation.