NEW YORK, Feb. 10, 2014 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Tech Data Corp. ("Tech Data" or the "Company") (NasdaqGS: TECD -News). The investigation focuses on whether the Company and its executives violated federal securities laws.
On March 21, 2013, after market-close, Tech Data 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 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.
If you are aware of any facts relating to this investigation, or purchased shares of Tech Data, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.