SAN FRANCISCO, Jan. 3, 2019 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP notifies investors in Belden Inc. (NYSE: BDC) of the Firm's investigation of possible disclosure violations. If you purchased or otherwise acquired BDC securities between February 13, 2018 and December 4, 2018and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
On February 13, 2018, Belden and senior management disclosed the Company's internal control over financial reporting was not effective. More specifically, they disclosed internal control weakness led to inappropriate recognition of revenue within the Grass Valley business unit.
More recently, on December 3, 2018, Belden and senior management disclosed the Securities and Exchange Commission is conducting an investigation related to the weakness.
This news drove the price of Belden shares down $5.43, or about 9.7%, to close at $50.45 on December 4, 2018.
"We're focused on investors' losses and the extent to which Belden's historical financial statements may have been misleading," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Belden should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
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