Tech Data Corp (NASDAQ: TECD) Investor Securities Class Action Lawsuit 09/21/2017

If you purchased a significant amount of shares of Tech Data Corp (NASDAQ: TECD) between June 1, 2017 and August 31, 2017, and / or if you purchased any NASDAQ: TECD shares prior to June 2017 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: November 24, 2017. NASDAQ: TECD investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Tech Data
Case Name: 
Tech Data Shareholder Class Action Lawsuit 09/21/2017
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: TECD
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
09/21/2017
Class Period Begin: 
06/01/2017
Class Period End: 
08/31/2017
Court of Filing: 
U.S. District Court for the Middle District of Florida
Deadline To File for Lead: 
11/24/2017
Summary: 

September 21, 2017 - An investor in shares of Tech Data Corp (NASDAQ: TECD) filed a lawsuit in the U.S. District Court for the Middle District of Florida over alleged violations of Federal Securities Laws by Tech Data Corp in connection with certain allegedly false and misleading statements made between June 1, 2017 and August 31, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Tech Data Corp (NASDAQ: TECD) common shares between June 1, 2017 and August 31, 2017, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between June 1, 2017 and August 31, 2017, that the defendants made false and/or misleading statements and/or failed to disclose that the Company was experiencing execution and operational issues, that these issues were impacting the Company’s financial performance, that consequently, the Company would not achieve its guidance, and that therefore the Company’s financial statements were materially false and misleading at all relevant times.

Tech Data Corp reported that its Total Revenue declined from over 426.37 billion for the 12 months period that ended on January 31, 2016 to over $26.23 billion for the 12 months period that ended on January 31, 2017 and that its Net Income for those respective time periods declined from $265.74 million to $195.09 million.

Shares of Tech Data Corp (NASDAQ: TECD) grew from $74.97 per share in late 2016 to as high as $110.29 per share on August 31, 2017,

On August 31, 2017, during a conference call to discuss results for the second fiscal quarter ended July 31, 2017, Tech Data Corp’s CEO, Robert Dutkowsky, disclosed that Tech Data was experiencing execution and operational issues that “impacted us in this quarter in a way that was much larger than we anticipated.”

Shares of Tech Data Corp (NASDAQ: TECD) declined to $82.61 per share on September 8 2017.