Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,424.85 162.29 1.00%
S&P 500 1,862.31 19.33 1.05%
NASDAQ 4,086.22 52.06 1.29%
Ticker Volume Price Price Delta
STOXX 50 3,139.26 47.74 1.54%
FTSE 100 6,584.17 42.56 0.65%
DAX 9,317.82 144.11 1.57%
Ticker Volume Price Price Delta
NIKKEI 14,394.11 -23.57 -0.16%
TOPIX 1,166.51 -0.04 -0.00%
HANG SENG 22,749.87 53.86 0.24%

Law Offices of Howard G. Smith Announces Investigation On Behalf of Investors of Tech Data Corporation



  Law Offices of Howard G. Smith Announces Investigation On Behalf of
  Investors of Tech Data Corporation

Business Wire

BENSALEM, Pa. -- March 29, 2013

Law Offices of Howard G. Smith announces that it is investigating potential
claims against Tech Data Corporation (“Tech Data” or the “Company”)
(NASDAQ:TECD) concerning possible violations of federal securities laws. The
investigation focuses on certain statements issued by Tech Data regarding the
Company’s financial performance. Tech Data engages in the wholesale
distribution of technology products in North America, South America, Europe,
the Middle East and Africa.

The investigation is related to the Company’s March 21, 2013 announcement that
it will restate certain of its financial results for 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 approximately $30-40
million and consolidated net income by approximately $25-33 million. According
to the Company, “the restatement will be made to correct improprieties related
to how the Company’s U.K. subsidiary reflected vendor accounting.” In
addition, the Company will likely seek a 15-day filing extension for its
Annual Report on Form 10-K for the fiscal year ended January 31, 2013.

If you purchased Tech Data shares, if you have information or would like to
learn more about these claims, or if you wish to discuss these matters or have
any questions concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire, of Law
Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888)
638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website
at http://www.howardsmithlaw.com.

Contact:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement