The Shareholders Foundation announces that an investigation on behalf of investors in General Cable Corporation (NYSE:BGC) shares is ongoing concerning potential breaches of fiduciary duties by certain officers and directors at General Cable.
Investors who are current long term stockholders in General Cable Corporation (NYSE:BGC) shares, 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 whether certain General Cable officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On October 15, 2013, General Cable Corporation 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. General Cable Corporation has previously announced that it announced that it had identified historical accounting errors relating to inventory. On November 4, 2013, General Cable announced estimated Third Quarter Results.
Shares of General Cable Corporation declined from $36.63 per share in March 2013 to as low as $22.97 per share on May 1, 2014.
NYSE:BGC closed on May 30, 2014, at $25.50 per share.
Those who purchased shares of General Cable Corporation have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego