Key Developments: IEC Electronics Corp (IEC)

IEC on American Stock Exchange

4.49USD
17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

IEC Electronics Corp comments on H1 2014 revenue outlook
Thursday, 19 Dec 2013 08:01am EST 

IEC Electronics Corp:Says it expects H1 2014 to show relatively flat sales as compared to H1 2013.The company reported revenue of $32.99 mln in Q1 2013 and $33.68 mln in Q2 2013.Q1 2014 revenue of $34 mln - Thomson Reuters I/B/E/S.Q2 2014 revenue of $35 mln -Thomson Reuters I/B/E/S.  Full Article

Levi & Korsinsky, LLP Notifies Investors Of Class Action Against IEC Electronics Corp. And Board Of Directors And A Deadline Of August 27, 2013 To Seek A Lead Plaintiff Position
Tuesday, 27 Aug 2013 03:39pm EDT 

Levi & Korsinsky, LLP announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased IEC Electronics Corp. common stock between February 8, 2012 and May 21, 2013. The complaint alleges that the Company improperly accounted for work-in-process inventory in one of its subsidiaries, and that due to this improper accounting IEC overstated its gross profit, violated Generally Accepted Accounting Principles, and issued materially false and misleading financial statements.  Full Article

Levi & Korsinsky, LLP Announces Class Action Against IEC Electronics Corp
Wednesday, 21 Aug 2013 02:07pm EDT 

Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased IEC Electronics Corp common stock between February 8, 2012 and May 21, 2013.  Full Article

Pomerantz Law Firm Files Class Action Against IEC Electronics Corp
Tuesday, 20 Aug 2013 09:37pm EDT 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a class action lawsuit against IEC Electronics Corp. and certain of officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 13 CV 5864, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of IEC between February 8, 2012 and May 21, 2013 both dates inclusive. This class action seeks to recover damages against the Company and certain of officers and Directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and financial performance. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that the Company was improperly accounting for work­ing-process inventory for one of subsidiaries; as a result, the Company's gross profit was overstated during the Class Period; the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles (GAAP); the Company lacked adequate internal and financial controls and as a result of the foregoing.  Full Article

Law Offices of Howard G. Smith Announces Class Action Lawsuit Against IEC Electronics Corp
Tuesday, 13 Aug 2013 09:02pm EDT 

Law Offices of Howard G. Smith announced that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class comprising all purchasers of the securities of IEC Electronics Corp between February 8, 2012, and May 21, 2013, inclusive.  Full Article

IEC Electronics Corp Comments On Q4 2013 Guidance
Thursday, 8 Aug 2013 08:30am EDT 

IEC Electronics Corp announced that for fourth quarter of 2013, it expects to show stronger sales and earnings than third quarter of 2013. The Company reported revenue of $35.154 million and net income of $0.382 million or $0.04 per diluted share in third quarter of 2013. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $34 million, net income of $0.40 million and EPS of $0.02 for fourth quarter of 2013.  Full Article

Law Offices of Todd M. Garber Announces Class Action Lawsuit Against IEC Electronics Corp
Tuesday, 16 Jul 2013 03:24pm EDT 

The Law Offices of Todd M. Garber announced that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the Class) comprising all purchasers of the securities of IEC Electronics Corp. (IEC or the Company) between February 8, 2012, and May 21, 2013, inclusive (the Class Period). IEC is a provider of electronic contract manufacturing services (EMS) to advanced technology companies. The Complaint alleges that during the Class Period the Company issued false and/or misleading statements and/or failed to disclose that: (1) the Company was improperly accounting for work-in-process inventory for one of its subsidiaries; (2) as a result, the Company's gross profit was overstated during the Class Period; (3) as such, the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles (GAAP); (4) the Company lacked adequate internal and financial controls; and (5), as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.  Full Article

Rosen Law Firm Reminds IEC Electronics Corp Investors Of Important Deadline
Sunday, 14 Jul 2013 03:25pm EDT 

The Rosen Law Firm reminded investors of the important August 27, 2013 lead plaintiff deadline in the class action lawsuit filed on behalf of purchasers of IEC Electronics Corp stock during the period between February 8, 2012 and May 21, 2013, seeking to recover damages for violations of the federal securities laws. According to the lawsuit, IEC improperly accounted for work-in-process inventory in one of its subsidiaries causing IEC to overstate its gross profit in violation of SEC reporting rules and accounting standards. The complaint alleges that, when this adverse information entered the market, the price of IEC stock dropped, damaging investors.  Full Article

IEC Electronics Corp Sued By Investor
Tuesday, 9 Jul 2013 07:35pm EDT 

Shareholder rights attorneys at Robbins Arroyo LLP announced that a shareholder of IEC Electronics Corp has filed a complaint in the U.S. District Court for the Southern District of New York. The complaint alleges that the Company and certain of its officers and directors violated the Securities Exchange Act of 1934 between February 8, 2012 and May 21, 2013 (the Class Period). According to the complaint, IEC made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and financial performance throughout the Class Period. Specifically, the complaint alleges that IEC made false and/or misleading statements and failed to disclose that the Company was improperly accounting for work-in-process inventory for one of its subsidiaries, and, as a result, the Company overstated its gross profit. The complaint further alleges that IEC's financial results were not prepared in accordance with Generally Accepted Accounting Principles.  Full Article

Pomerantz Grossman Hufford Dahlstrom & Gross LLP Firm Announces The Filing Of Class Action Against IEC Electronics Corp. And Certain Officers
Monday, 8 Jul 2013 09:31am EDT 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that the filing of a class action lawsuit against IEC Electronics Corp. and certain of its officers. The class action, filed in United States District Court, Southern District of New York, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of IEC between February 8, 2012 and May 21, 2013 both dates inclusive (the Class Period). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws.  Full Article

BRIEF-IEC Electronics M&t agree to term loan of $1.3 mln to reimburse cost of purchasing New York building

Nov 19 - IEC Electronics Corp : * On November 8, co, Manufacturers and Traders Trust entered into third

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