NEW YORK, NY / ACCESSWIRE / November 20, 2017 / Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Middle District of Florida on behalf of all persons or entities who purchased or otherwise acquired Tech Data Corporation (NASDAQ: TECD) securities between June 1, 2017 and August 31, 2017 (the "Class Period"). Investors have until November 24, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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 Tech Data in a way that was much larger than anticipated. Following this news, shares of Tech Data fell $22.83 per share, or over 20%, to close at $87.46 per share on August 31, 2017.
The Complaint alleges that 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 throughout the Class Period.
If you purchased or otherwise acquired Tech Data securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Tech Data Corporation lawsuit, please go to www.bespc.com/techdata. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
SOURCE: Bragar Eagel & Squire, P.C.