Ryan & Maniskas, LLP Announces Investigation of Blount International Inc.

WAYNE, Pa., Aug. 9, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/blt) announces that it is investigating potential claims against Blount International, Inc. (NYSE: BLT) ("Blount" or the "Company") on behalf of those who purchased Blount common stock between January 1, 2012 and August 7, 2013 (the "Class Period").

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The investigation concerns whether Blount and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On August 7, 2013, the company released its financial results for the quarter ended June 30, 2013.  The Company stated in its announcement that it would need to amend its 2012 10-K and first quarter 2013 10-Q to reflect material weaknesses in Blount's internal controls over financial reporting. As a result, Blount would not be able to timely file its second quarter 10-Q for 2013, and it may need to restate its 2012 financial statements to reflect an impairment of goodwill.

On this news, shares of Blount fell $1.07 per share or 8.41% to $11.72 on intraday trading on August 7, 2013.

For more information regarding this, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/blt.  For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm.  Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

SOURCE Ryan & Maniskas, LLP