General Cable Discloses Reserve for Potential Disgorgement to SEC over FCPA

India Thailand Angola Portugal

Recently, General Cable Corp. disclosed in an 8-K/A that it had accrued a $24 million reserve related to potential disgorgement the company anticipates having to pay the SEC related to an investigation of its sales activities in Angola.  The reserve did not include any provision for potential fines or penalties.  General Cable previously announced both the inception and near resolution of its internal investigation into potential FCPA concerns in Angola, Thailand, India, and Portugal (see prior FCPA Scorecard coverage).