The Rosen Law Firm Announces Investigation of Securities Claims Against Tech Data Corp.
NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A. is investigating potential claims on behalf of purchasers of the securities of Tech Data Corp. (NasdaqGS:TECD). The investigation focuses on whether the Company and its executives violated federal securities laws.
“the restatement will be made to correct improprieties related to how the Company's U.K. subsidiary reflected vendor accounting.”
On March 21, 2013, after market-close, Tech Data announced that it will restate its financial results from its 2011, 2012 and 2013 fiscal years. The company said investors should no longer rely on the financial data reported relating to these periods. The restatement will reduce previously reported consolidated operating income by about $30-40 million in total, and consolidated net income by about $25-33 million in total. According to the Company, "the restatement will be made to correct improprieties related to how the Company's U.K. subsidiary reflected vendor accounting." On January 30, 2014, Tech Data disclosed that it was expanding the scope of its previously announced earnings restatement and adding additional charges the Company should have been taken as of January 31, 2013.
The Rosen Law Firm is preparing a class action lawsuit as a result of this adverse information. If you purchased Tech Date stock prior to January 31, 2014, you may visit the website at http://rosenlegal.com to join the class action. You may also contact Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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|Laurence M. Rosen, Esq.|
|Phillip Kim, Esq.|
|The Rosen Law Firm P.A.|
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