NEW ORLEANS, La., Dec. 5, 2013 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 20, 2013 to file lead plaintiff applications in securities class action lawsuits against General Cable Corp. (NYSE: BGC ), if they purchased the Company's during the period between May 2, 2011 and November 4, 2013, inclusive (the "Class Period"). These actions are pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of General Cable and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn ( lewis.kahn@ksfcounsel.com ) or KSF Partner Melinda Nicholson ( melinda.nicholson@ksfcounsel.com ). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 20, 2013 .
About the Lawsuit
General Cable and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that General Cable: (i) understated cost of sales and overstated inventory balances; (ii) had a reconciliation process that was deficient as it failed to detect finished goods inventory; (iii) overstated inventory in its allocation of the purchase price among assets acquired, resulting in an understatement of goodwill; (iv) overstated its value-added tax credits by at least $18 million; and (v) improperly recognized revenue of approximately $30 and $7 million of gross margin in connection with "bill and hold" transactions for aerial transmission projects in Brazil.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com .
Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner Melinda Nicholson, Partner 1-877-515-1850 206 Covington St. Madisonville, LA 70447
