Law Offices of Todd M. Garber Announces Investigation of Blount International, Inc.

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Todd M. Garber announces that it is investigating potential claims against Blount International, Inc. (“Blount” or the “Company”) (NYSE:BLT) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company between January 1, 2012 and August 7, 2013 concerning Blount’s financial performance.

Blount designs, manufactures and markets equipment, replacement and component parts and accessories to forestry, lawn and garden, farm, ranch, agriculture and construction sectors in the United States and internationally. On August 7, 2013 the Company disclosed that Blount will be amending its annual report on Form 10-K for 2012, as well as its quarterly report on Form 10-Q for the first quarter of 2013, to reflect a conclusion by management that the Company's internal control over financial reporting and disclosure controls and procedures were not effective as of December 31, 2012; the Company’s disclosure controls and procedures were not effective as of March 31, 2013, and “material weaknesses existed in those areas.”

According to the Company, in light of those material weaknesses, the Company and its independent registered public accounting firm are in the process of “also re-evaluating the Company's 2012 accounting for goodwill and other indefinite-lived intangible assets recorded in connection with the business acquisitions made in 2010 and 2011.” The Company does not intend to file its quarterly report on Form 10-Q for second quarter 2013 until that re-evaluation is completed and further stated “it is possible that we may conclude that a restatement of our financial statements for the year ended December 31, 2012 is necessary to reflect an impairment of goodwill.”

If you purchased Blount shares during the foregoing period, if you have information or would like to learn more about these claims, or if you purchased Blount shares prior to January 1, 2012 and wish to discuss these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.