NEW YORK, Nov. 12, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased General Cable Corporation ("General Cable" or the "Company") (NYSE:BGC) between May 3, 2011 and October 14, 2013.
For more information, click here: http://zlk.9nl.com/general-cable-bgc/.
The complaint alleges that throughout the Class Period, defendants failed to disclose that the Company understated cost of sales and goodwill, overstated inventory balances and its value added tax credits, and improperly recognized revenue in connection with "bill and hold" transactions for aerial transmission projects in Brazil.
In an October 15, 2013 SEC filing, the Company announced that due to certain accounting errors, the Company's previously issued financial statements for the fiscal years 2008 through 2012, all quarterly filings from 2008 to 2012, and for the three fiscal months ended March 29, 2013 should no longer be relied upon.
If you suffered a loss in General Cable you have until December 20, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/general-cable-bgc/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP