NEW YORK, March 29, 2013 (GLOBE NEWSWIRE) -- The following statement was issued today by Squitieri & Fearon, LLP.
Squitieri & Fearon, LLP announces that it is investigating claims for purchasers of Tech Data Corp. ("TECD" or the "Company") securities during the period June 1, 2011 and March 21, 2013 (the "Class Period") following the Company's announcement that it expects to restate three years' worth of financial reports for 2011, 2012 and 2013.
On March 21, 2013, TECD disclosed it "will restate some or all of its previously issued quarterly and audited annual financial statements for the fiscal years 2011 and 2012, and some or all of the quarters of fiscal year 2013, including our fourth quarter and fiscal year 2013 earnings release dated March 4, 2013."
Following the disclosure, the Company's stock price fell and now trades at approximately $45.50 per share, which is significantly less than its prior trading price.
We are investigating whether TECD and certain of its officers were aware of the Company's problems before disclosing them to investors and whether certain insiders knew this information before selling their own company stock.
Squitieri & Fearon, LLP has significant experience prosecuting class actions on behalf of investors and shareholders.
If you wish to discuss your rights in connection with the TECD stock or have any questions concerning this notice or your rights or interest, please contact Stephen J. Fearon, Jr. of Squitieri & Fearon, LLP by email at stephen@sfclasslaw.com or by phone at (212) 421-6492. You can also review more information about this at the following web site: http://sfclasslaw.com/tech-data-corp-nasdaq-tecd-securities-fraud-class-action-investigation/.