The Audit Committee has commenced an investigation into the circumstances that gave rise to the need to restate the Company's financial statements and has retained independent counsel to assist in the investigation. The SEC has requested information from the Company, and the Company intends to cooperate with such request.
Forward Looking Statements
The report includes "forward-looking statements" within the meaning of the federal securities laws and regulations, including those regarding the Company's intent to restate its prior financial statements, the scope of the restatement and the expected timing of filing the restated financial reports. There can be no assurance that the Company's management, Audit Committee or independent registered public accounting firm will not reach conclusions that are different from management's preliminary identification of issues. These statements are subject to risks and uncertainties, including the risk that additional information relating to the scope of the improprieties may arise from the ongoing review of this matter, the risk that the process of preparing the financial statements or other subsequent events would require the Company to make additional adjustments, the time and effort required to complete the restatement and the ramifications of the Company's potential inability to timely file required reports. Forward-looking statements reflect management's analysis as of the filing date of this Notice, and the Company does not undertake to revise these statements to reflect subsequent developments.
About Tech DataTech Data Corporation (Nasdaq:TECD) is one of the world's largest wholesale distributors of technology products. Its advanced logistics capabilities and value added services enable 120,000 resellers in more than 100 countries to efficiently and cost effectively support the diverse technology needs of end users. To learn more, visit www.techdata.com .
CONTACT: Jeffery P. Howells, Executive Vice President and Chief Financial Officer 727-538-7825 (email@example.com) or Arleen Quinones, Director, Investor Relations and Shareholder Services 727-532-8866 (firstname.lastname@example.org)