Newman Ferrara LLP Announces Investigation Of Blount International Inc.

Newman Ferrara LLP is conducting an investigation on behalf of shareholders of Blount International Inc. (“Blount”) (NYSE) (BLT) into potential violations of federal securities laws and breaches of fiduciary duty by Blount and certain of its executive officers and directors.

On August 7, 2013, Blount announced that it had identified a material weakness in its internal controls over financial reporting and disclosure controls and procedures which will cause it to amend its Annual Report on Form 10-K for the year 2012 as well as its Quarterly Report on Form 10-Q for the first quarter of 2013. Blount reported that material weaknesses existed in its internal control over financial reporting related to the information systems at its Woods/TISCO subsidiary and its accounting for indefinite-lived intangible assets in 2012.

Following this news, shares of Blount stock dropped nearly 9% to close at $11.66 per share on August 7, 2013.

Investors who purchased shares of Blount common stock between January 1, 2012 and August 6, 2013, may contact Newman Ferrara attorney Roy Shimon ( rshimon@nfllp.com) by email or call (212) 619-5400 to discuss this investigation and their rights as Blount shareholders.

Whistleblowers: Persons with knowledge that may aid in the investigation of this matter are encouraged to contact the firm. Under the Dodd-Frank Wall Street Reform Bill, whistleblowers are protected from employer retaliation and may be entitled to as much as 30 percent of the recovery if the information provided leads to a successful action.

Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.

Copyright Business Wire 2010

If you liked this article you might like

BHP and Vale Agree to New Framework for Samarco Disaster Settlement

European Markets Weaker as China Trade Data, Brexit Concerns Weigh on Sentiment

BHP, Vale Book Optimistic $2.5 Billion of Samarco Dam-Spill Charges

Blount Int’l (BLT) Stock Skyrocketing After Agreeing to Be Acquired

Blount International (BLT) Downgraded From Buy to Hold