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Home>TECH DATA INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Tech Data Corporation To Contact The Firm

TECH DATA INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Tech Data Corporation To Contact The Firm

TECH DATA INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Tech Data Corporation To Contact The Firm

09/28/2017

TECH DATA INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Tech Data Corporation To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Tech Data Corporation (“Tech Data” or the “Company”) (NASDAQ:TECD) of the November 24, 2017 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Tech Data stock or options between June 1, 2017 and August 31, 2017 and would like to discuss your legal rights, click here : www.faruqilaw.com/TECD. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com .

The lawsuit has been filed in the U.S. District Court for the Middle District of Florida on behalf of all those who purchased Tech Data common stock between June 1, 2017 and August 31, 2017 (the “Class Period”). The case, Bhatt v. Tech Data Corporation, et al, No. 8:17-cv-02185 was filed on September 21, 2017, and has been assigned to Judge Anthony E. Porcelli.

The lawsuit focuses on whether the Company and its executives violated federal securities laws. Specifically, Tech Data 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.

Specifically, on June 1, 2017, Tech Data issued a press release and filed a Form 8-K with the Securities and Exchange Commission (“SEC”) announcing the Company's financial and operating results for the quarter ended April 30, 2017. The Company disclosed, in part, that “[f]or the quarter ending July 31, 2017, the Company anticipates non-GAAP EPS to be in the range of $1.95 and $2.08.” Then on August 31, 2017, Tech Data issued a press release and filed a Form 8-K with the SEC announcing the Company's financial and operating results for the quarter ended July 31, 2017. Therein, the Company reported non-GAAP diluted EPS of $1.74 far from the previous guidance.

After the announcement, Tech Data’s share price fell from $110.81 per share on August 31, 2017 to a closing price of $89.01 on September 1, 2017—a $22.83 or a 20.69% drop.

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