NEW YORK, Aug. 9, 2013 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Blount International, Inc. ("Blount" or the "Company") (NYSE: BLT).
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The investigation focuses on whether Blount and certain of its executives and/or directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On August 7, 2013, the Company revealed that it would be amending its Annual Report on Form 10-K for 2012 and its Quarterly Report on Form 10-Q for the first quarter of 2013 because of ineffective internal control regarding financial reporting and disclosure controls and procedures.
Following this news, Blount shares fell to close at $11.66 per share on August 7, 2013, a drop of $1.13 or over 8%.
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Take Action
If you invested in Blount stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/BLT. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Blount's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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