TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

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

  • If you purchased shares of Tech Data Corp (NASDAQ: TECD), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Tech Data Corp
Security
NASDAQ: TECD

Case Name
Tech Data Shareholder Class Action Lawsuit 09/21/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Middle District of Florida

Class Period Begin
Class Period End
Deadline To File for Lead
You must register or login to receive notifications.

Click here to subscribe to Tech Data Corp.
Summary

December 11, 2018 - The case was dismissed.

April 27, 2018 - A motion to dismiss the amended complaint was filed.

February 28, 2018 - An amended complaint was filed.

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.