IEC ELECTRONICS SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in
IEC ELECTRONICS SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against IEC Electronics Corp. - IEC
NEW ORLEANS, LA -- (Marketwired) -- 07/01/13 -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 27, 2013 to file lead plaintiff applications in a securities class action lawsuit against IEC Electronics Corp. (NYSE: IEC), if they purchased the Company's securities during the period between February 8, 2012 and May 21, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of IEC Electronics and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org) or KSF Partner Melinda Nicholson (email@example.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 27, 2013.
About the Lawsuit
IEC Electronics and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, in violation of federal securities laws.
These false statements and omissions included, in part, that: (a) the Company was improperly accounting for work-in-process inventory for one of its subsidiaries; (b) as a result, the Company's gross profit was overstated during the Class Period; (c) as such, the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (d) the Company lacked adequate internal and financial controls; and (e), as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.