San Diego, CA -- (SBWIRE) -- 04/22/2014 -- An investigation on behalf of investors of Tech Data Corp (NASDAQ:TECD) shares over potential securities laws violations by Tech Data Corp (NASDAQ:TECD. and certain of its directors and officers in connection certain financial statements was announced .
If you purchased shares of Tech Data Corp (NASDAQ:TECD), you have certain options and you should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Tech Data Corp (NASDAQ:TECD) concerning whether a series of statements by Tech Data Corp (NASDAQ:TECD regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On March 21, 2013, after market-close, Tech Data Corp announced that it will restate that it will restate some of 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 Corp disclosed that it was expanding the scope of its previously announced earnings restatement and adding additional charges the Company should have taken as of January 31, 2013.
On April 17, 2014, NASDAQ:TECD shares closed at $63.64 per share.
Those who purchased shares of Tech Data Corp (NASDAQ:TECD) have certain options and should contact the Shareholders Foundation.
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