April 30, 2019 - The court granted the defendants' motion to dismiss.

March 26, 2018 - A motion to dismiss the consolidated complaint was filed.

January 19, 2018 - A consolidated complaint was filed.

January 5, 2017 - An investor in shares of General Cable Corporation (NYSE: BGC) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by General Cable Corporation in connection with certain allegedly false and misleading statements made between February 23, 2012 and February 10, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of General Cable Corporation (NYSE: BGC) common shares between February 23, 2012 and February 10, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 23, 2012 and February 10, 2016 the defendants made false and/or misleading statements and/or failed to disclose that: (i) General Cable Corporation paid millions of dollars in bribes to government officials in foreign countries, including Angola, Bangladesh, China, Egypt, Indonesia, India, and Thailand, in order to secure business; (ii) the foregoing conduct was in violation of the Foreign Corrupt Practices Act of 1997 (the “FCPA”); (iii) General Cable Corporation’s revenues were therefore in part the product of illegal conduct, and, as such, subject to disgorgement and unlikely to be sustainable; (iv) the foregoing conduct, when it became known, would subject the Company to significant regulatory scrutiny and financial penalties; and (v) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.

General Cable Corporation reported that its Total Revenue declined from over $5.38 billion in 2014 to over $4.22 billion in 2015 and that its Net Loss declined from $557.40 million in 2014 to $110.30 million in 2015.

On September 22, 2014, General Cable Corporation disclosed some of its staff had issued payments to officials of Angola government-owned public utilities, which some considered a violation of Foreign Corrupt Practices Act of 1977 (“FCPA”). On February 26, 2015, General Cable Corporation announced that in connection with a possible settlement of FCPA offenses, the Company expected to disgorge $24 million in profits from bribe-tainted sales in Angola.

On February 10, 2016, General Cable Corporation revealed that it may have incurred more than $33 million in profits through transactions potential in violation to the FCPA.

On December 29, 2016, General Cable Corporation revealed that the Company has agreed to pay $82.3 million to resolve the U.S. government’s investigation into inappropriate payments to government officials in Egypt, Angola, Bangladesh, China, Indonesia and Thailand.

The U.S. Department of Justice stated “[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.”