Law Offices of Todd M. Garber Announces Investigation of Tech Data
LOS ANGELES -- April 5, 2013
The Law Offices of Todd M. Garber 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. 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 has stated investors should no longer rely on its
financial data reported for 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
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 Todd M. Garber, Esquire, of the Law
Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
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