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BRIEF-General Cable says resolves ongoing SEC and DOJ investigations
December 29, 2016 / 4:49 PM / 9 months ago

BRIEF-General Cable says resolves ongoing SEC and DOJ investigations

Dec 29 (Reuters) - General Cable Corp -

* General Cable resolves ongoing SEC and DOJ investigations

* General Cable will pay fines, disgorgement and pre-judgment interest to SEC and DOJ in total amount of $82.3 million

* As a result of resolutions with DOJ and SEC, General Cable will record a charge of approximately $49.3 million in Q4 of 2016

* General Cable - Taking the charge into account, general cable to have recognized all costs associated with resolution of this matter with DOJ and SEC

* General Cable - In light of significant compliance enhancements made by co to date, neither DOJ nor SEC is requiring an independent compliance monitor

* As a result of resolutions with DOJ and SEC, General Cable will disgorge profits of approximately $51.2 million

* General Cable Corp - Has instead agreed to annual self-reporting for a period of three years Source text for Eikon: Further company coverage:

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