NEW YORK, July 3, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at IEC Electronics Corp. ("IEC" or the "Company") (NYSE: IEC).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the investigation focuses on whether IEC's announced restatements were caused by improper accounting and lack of adequate internal and financial controls.
On May 1, 2013, the Company announced that it would restate its consolidated financial statements for the fiscal year ended September 30, 2012, the quarterly periods during fiscal 2012, and the quarter ended December 28, 2012. On May 21, 2013, IEC further announced that it received a notice that it would be delisted from the NYSE MKT Exchange. Following this news, the Company's stock dropped 16%.
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Take Action
If you invested in IEC's stock or options between February 8, 2012 and May 21, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/IEC. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding IEC's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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