Hynes Keller & Hernandez, LLC is investigating potential claims against the Board of Directors of General Cable Corporation (NYSE: BGC) concerning possible breaches of fiduciary duty. On December 29, 2016, General Cable Corporation disclosed that it would pay $82.3 million to resolve a U.S. government investigation into inappropriate payments to public officials in Egypt, Angola, Bangladesh, China, Indonesia and Thailand. The United States Department of Justice announced that, “[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.”
Shareholders interested in seeking to recover damages on behalf of BGC and to implement corporate governance measures designed to prevent future misconduct should contact the firm.
If you hold BGC shares and you would like to discuss your legal rights, please email the firm at info@hkh-lawfirm.com. You can also contact us by calling Michael J. Hynes at (484) 875-3116 or by sending an e-mail to mhynes@hkh-lawfirm.com.