December 30, 2016 (Shareholders Foundation) - An investigation on behalf of investors of General Cable Corporation (NYSE:BGC) shares over potential securities laws violations by General Cable Corporation (NYSE:BGC 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 (NYSE:BGC regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

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 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. governments 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.