Belden Inc. (NYSE: BDC)
Hagens Berman Sobol Shapiro LLP alerts investors in Belden Inc. (NYSE: BDC) to the firm's investigation into possible disclosure violations.
If you purchased or otherwise acquired securities of BDC between February 13, 2018 and December 4, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing BDC@hbsslaw.com.
On February 13, 2018, Belden and senior management disclosed the Company’s internal control over financial reporting was not effective. More specifically, they disclosed internal control weakness lead to inappropriate recognition of revenue within the Grass Valley business unit.
More recently, on December 3, 2018, Belden and senior management disclosed the Securities and Exchange Commission is conducting an investigation related to the weakness.
This news drove the price of Belden shares down $5.43, or about 9.7%, to close at $50.45 on December 4, 2018.
“We’re focused on investors’ losses and the extent to which Belden’s historical financial statements may have been misleading,” said Hagens Berman partner Reed Kathrein.
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