WILMINGTON, Del., Jan. 26, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating senior management and the Board of Directors of Tech Data Corporation ("Tech Data Corporation" or the "Company") for possible corporate misconduct and violations of securities laws.
On March 21, 2013, TECD disclosed it "will restate some or all of its previously issued quarterly and audited annual financial statements for the fiscal years 2011 and 2012, and some or all of the quarters of fiscal year 2013, including our fourth quarter and fiscal year 2013 earnings release dated March 4, 2013. Accordingly, investors should no longer rely upon the Company's previously released financial statements and other financial data relating to these periods."
Before Tech Data released this negative news, however, Tech Data insiders sold millions of Tech Data stock.
As a result of this news, the Company's stock price fell in after hours trading causing investors to lose millions.
As a result of the foregoing news, Andrews & Springer has opened an investigation that seeks to determine whether Tech Data's senior management and board of directors have violated securities laws and/or breached their fiduciary duties to shareholders resulting in losses to Tech Data shareholders.
If you currently own shares of Tech Data and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/TECD or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.