ATTENTION SHAREHOLDERS: Tech Data Corporation (TECD) Under Investigation by The Young Law Firm For P

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ATTENTION SHAREHOLDERS: Tech Data Corporation (TECD) Under Investigation by The Young Law Firm For Possible Violations of Federal Securities Laws

PHOENIXVILLE, Pa.--(BUSINESS WIRE)-- The Young Law Firm is investigating potential claims on behalf of investors in Tech Data Corporation ("Tech Data" or the "Company") concerning possible violations of federal securities laws. The investigation concerns how the Company reported income.

Tech Data distributes technology products. On March 21, 2013, the Company announced that its Audit Committee had concluded that the Company would 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 its fourth quarter and fiscal year 2013 earnings release dated March 4, 2013. Accordingly, the Company advised that investors should no longer rely upon the Company's previously released financial statements and other financial data relating to these periods. The Company further stated that it anticipated that the restatement would be made to correct improprieties primarily related to how the Company's U.K. subsidiary reflected vendor accounting and that the Company estimated that the restatement will reduce previously reported consolidated operating income by an aggregate amount of approximately $30 million to $40 million, and consolidated net income by an aggregate amount of approximately $25 million to $33 million, over the three fiscal year periods.


On April 1, 2013 Tech Data further announced that it had notified the Securities and Exchange Commission that it was unable to file its Annual Report on Form 10-K for the year ended January 31, 2013 within the prescribed time period.

Shareholders have rights. If you purchased Tech Data stock and would like to learn more about these matters, please contact:

Henry Young Esq.
The Young Law Firm
Toll Free: (888) 452-7252
Email:contact@theyounglf.com
or visit:www.theyounglf.com/tech-data-corporation-securities-fraud-class-action/

The Young Law Firm is a national shareholder litigation firm located outside of Philadelphia, Pa. We protect individual and institutional investors in state and federal courts nationwide. For more information about the firm and class action cases in general, please visit our website: www.theyounglf.com.

Legal Notice: Pursuant to the laws of certain states of the United States this press release may be considered attorney advertising. That The Young Law Firm may have recovered money and other benefits for shareholders in the past does not mean they will do so again. Past performance does not guarantee future results. We are further obliged to tell you that The Young Law Firm may divide legal fees with other law firms and / or seek referral fees in connection with the content of this message.



The Young Law Firm
Henry Young Esq.
Toll Free: (888) 452-7252
Email: contact@theyounglf.com

KEYWORDS:   United States  North America  Pennsylvania

INDUSTRY KEYWORDS:

The article ATTENTION SHAREHOLDERS: Tech Data Corporation (TECD) Under Investigation by The Young Law Firm For Possible Violations of Federal Securities Laws originally appeared on Fool.com.

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