IRVINE, CA / ACCESSWIRE / March 6, 2017 / Khang & Khang LLP (the "Firm") announces the filing of a class action lawsuit against General Cable Corporation ("General Cable" or the "Company") (NYSE: BGC). Investors, who purchased or otherwise acquired shares between February 23, 2012 and February 10, 2016 inclusive (the "Class Period"), are encouraged to contact the Firm prior to the March 6, 2017 lead plaintiff motion deadline.
If you purchased shares of General Cable during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.
On February 10, 2016, General Cable stated that it could have incurred more than $33 million in profits through transactions violating the FCPA, an amount that would have to be disgorged, with interest. When this information was released to the investing public, the value of General Cable fell $3.05 per share or over 31.6% from its previous closing price to close at $6.60 per share on February 11, 2016.
The U.S. Department of Justice then issued the following statement: "[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." Upon the release of this information was released to the public, the value of General Cable fell sharply, causing investors serious harm.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
If you wish to learn more about this lawsuit, at no charge, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.
This press release may constitute Attorney Advertising in some jurisdictions.
Contact:
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
SOURCE: Khang & Khang LLP
ReleaseID: 456648
