An investigation for investors in shares of General Cable Corporation (NYSE:BGC) over potential wrongdoing by certain officers and directors was announced and current long-term NYSE:BGC stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 09/11/2013 -- An investigation on behalf of investors in shares of General Cable Corporation (NYSE:BGC) was announced concerning whether certain General Cable officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who purchased shares of General Cable Corporation (NYSE:BGC) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns, among other things, whether certain General Cable officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by failing to implement adequate internal controls.
On July 31, 2013, General Cable Corporation disclosed that on October 29, 2012, it announced that it had identified historical accounting errors relating to inventory. General Cable Corporation said it believes that the inventory accounting issues were, to a significant extent, attributable to a complex theft scheme in Brazil and, to a lesser extent, accounting errors, primarily in Brazil, affecting work in process and finished goods inventory that were not detected due to a deficient reconciliation process.
General Cable Corporation said that as a result, on March 1, 2013, the Company filed amendments to its previously filed Forms 10-Q for the quarters ended March 30, 2012 and June 29, 2012 and to its Annual Report on Form 10-K for the fiscal year ended December 31, 2011 to restate the previously issued financial statements and related financial information contained therein.
Shares of General Cable Corporation (NYSE:BGC) closed on September 10, 2013, at $31.44 per share.
Those who purchased shares of General Cable Corporation (NYSE:BGC), have certain options and should contact the Shareholders Foundation.
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