WAYNE, Pa., April 1, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/tech) has commenced an investigation into potential securities law violations by certain officers of Tech Data Corp. ("Tech Data" or the "Company") (NASDAQ: TECD). The investigation focuses on allegations that certain statements issued by the Company regarding the Company's business, operations and financial condition were false and misleading.
Tech Data shareholders should contact Richard A. Maniskas, Esquire at 877-316-3218 or at email@example.com to learn more about this investigation.
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 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 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 31, 2013.
If you purchased Tech Data shares and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free: (877) 316-3218 or visit: www.rmclasslaw.com/cases/tecd. You may also email Mr. Maniskas at firstname.lastname@example.org. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.