The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Middle District of Florida on behalf of investors who purchased Tech Data Corporation (“Tech Data”) (NASDAQ: TECD) securities between June 1, 2017 and August 31, 2017.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing execution and operational issues; (2) these issues were impacting the Company’s financial performance; (3) consequently, the Company would not achieve its guidance; and (4) therefore the Company’s financial statements were materially false and misleading at all relevant times.
On August 31, 2017, during a conference call to discuss results for the second fiscal quarter ended July 31, 2017, the Company’s CEO, Robert Dutkowsky, disclosed that the Company was experiencing execution and operational issues that “impacted us in this quarter in a way that was much larger than we anticipated.” Upon this news, shares of Tech Data fell $22.83 per share on August 31, 2017.
If you suffered a loss in Tech Data you have until November 24, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.