NEW YORK, Oct. 15, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of General Cable Corp. ("General Cable" or the "Company")(NYSE: BGC). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether General Cable and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On October 15, 2013, the Company announced in an Securities and Exchange Commission 8-K filing, that its financial statements for fiscal years 2008-2012, and 1Q 2013, should no longer be relied upon due to accounting errors relating to value added tax and revenue recognition. The Company has previously announced that it was responding to SEC comments regarding amendments of its financial statements after discovering historical accounting errors relating to inventory attributable to a complex theft scheme in Brazil.
On this news, shares of General Cable fell $1.50 per share to more than 4.43% on intraday trading to a price of $32.37 on October 15, 2013.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP