CORRECTING and REPLACING ATTENTION SHAREHOLDERS: IEC Electronics Corp (IEC) Under Investigation by The Young Law Firm For Possible Violations of Securities Laws

PHOENIXVILLE, Pa.--(BUSINESS WIRE)--Headline of release should read: ATTENTION SHAREHOLDERS: IEC Electronics Corp (IEC) Under Investigation by The Young Law Firm For Possible Violations of Securities Laws (sted ATTENTION SHAREHOLDERS: IEC Electronics Corp (IEC) Under Investigation by The Young Law Firm For Possible Securities Fraud).

End of fifth graph of release should read: ...and class action lawsuits in general, please contact: (sted ...and fraud class action lawsuits in general, please contact:).

The corrected release reads:

IEC ELECTRONICS CORP (IEC) UNDER INVESTIGATION BY THE YOUNG LAW FIRM FOR POSSIBLE VIOLATIONS OF SECURITIES LAWS

The Young Law Firm is investigating potential claims on behalf of investors in IEC Electronics Corp (“IEC” or the “Company”) (NYSE MKT: IEC) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by IEC between February 8, 2012 and April 30, 2013 concerning the Company’s business.

IEC specializes in the custom manufacture of complex circuit cards and system-level assemblies, cable and wire harness assemblies, and precision sheet metal components. It serves military and aerospace, medical, industrial, communications, and other sectors.

The investigation is related to the Company's May 1, 2013 announcement that IEC's consolidated financial statements for the fiscal year ended September 30, 2012, the quarterly periods during fiscal 2012, and the quarter ended December 28, 2012 are being restated due to "an error in accounting for work-in-process inventory at one of the Company's subsidiaries, Southern California Braiding, Inc." According to the Company, this error "resulted in an aggregate understatement of cost of sales and an aggregate overstatement of gross profit during all such Restated Periods of approximately $2.2 million".

On May 2, 2013, the trading price of IEC’s common stock dropped by $0.50 per share, nearly 9%, to close at $5.20 per share on heavier than usual trading volume.

If you purchased IEC stock between February 8, 2012 and April 30, 2013 and still hold those shares, and you would like to discuss the restatement at IEC, protecting your legal rights, and class action lawsuits in general, please contact:

Henry Young Esq.
The Young Law Firm
Toll Free: (888) 452-7252
Email: contact@theyounglf.com
or visit: www.theyounglf.com/iec-electronics-securities-fraud-class-action-lawsuit/

Henry Young Esq., the Firm’s founder, has over 10 years of experience litigating complex shareholder class action lawsuits, including cases resulting in the recovery of millions of dollars for shareholders. The Firm routinely works with and refers cases to other leading law firms around the country to enforce shareholder rights. For more information about the Firm and class action cases in general, please visit our website: www.theyounglf.com.

This press release may be considered attorney advertising. Past results do not guarantee future performance.