August 2, 2013 (Update) - On July 31, 2013, General Cable Corporation disclosed that on October 29, 2012, it announced that it had identified historical accounting errors relating to inventory. General Cable Corporation said it believes that the inventory accounting issues were, to a significant extent, attributable to a complex theft scheme in Brazil and, to a lesser extent, accounting errors, primarily in Brazil, affecting work in process and finished goods inventory that were not detected due to a deficient reconciliation process.

General Cable Corporation said that as a result, on March 1, 2013, the Company filed amendments to its previously filed Forms 10-Q for the quarters ended March 30, 2012 and June 29, 2012 and to its Annual Report on Form 10-K for the fiscal year ended December 31, 2011 to restate the previously issued financial statements and related financial information contained therein.

Shares of General Cable Corporation (NYSE:BGC) closed on August 2, 2013, at $32.37 per share.

Nov. 13, 2012 (Shareholders Foundation) -- An investigation on behalf of investors of General Cable Corporation (NYSE:BGC) shares over potential securities laws violations by General Cable Corporation and certain of its directors and officers in connection certain financial statements was announced .

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of General Cable Corporation (NYSE:BGC) concerning whether a series of statements by General Cable Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

General Cable Corporation (NYSE:BGC) reported that its annual Revenue rose from over $4.38 billion in 2009 to over $5.86 billion in 2011 and its Net Income grew from $56.60 million in 09 to $84.10 million in 2011.

Shares of General Cable Corporation (NYSE:BGC) grew from as low as $13.65 per share in March 2009 to as high as $48,50 per share in April 2011.

Then on October 29, 2012, General Cable Corporation announced its financial results for the quarter ended September 28, 2012,. Among other things, General Cable Corporation said that it has identified certain inventory related accounting errors in two facilities located in Brazil and a third facility located in South Africa within the Companys ROW segment that were erroneously computing cost of sales over the course of several years, resulting in an understatement of cost of goods sold and an overstatement of ending inventory. General Cable Corporation said it will have to restate certain financial results. General Cable said that on October 26, 2012, the Audit Committee of the Companys Board of Directors, upon the recommendation of the Companys executive officers, concluded that due to these inventory related accounting errors within the Companys ROW segment in two countries, the Companys previously issued consolidated financial statements for fiscal years 2009 through 2011 and the related reports of its independent registered public accounting firm, the interim periods during those years, and the financial statements as of, and for the periods ended March 30, 2012 and June 29, 2012 should no longer be relied upon.
On November 7 and 13, 2012 General Cable Corporation (NYSE:BGC) disclosed that it will delay its 10-q filing with the SEC.

Shares of General Cable Corporation (NYSE:BGC) declined from $31.87 per share on September 20, 2012 to as low as $27.59 per share on November 9, 2012 and closed on November 13, 2012, as low as $27.75 per share.