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Rosen Law Firm Investigates Securities Fraud Claims Against Tech Data Corp

Thursday, 21 Mar 2013 07:40pm EDT 

The Rosen Law Firm announced that it is investigating securities fraud claims against Tech Data Corp. Tech Data announced that it will restate its financial results for its last three fiscal years. The restatement will reduce previously reported consolidated operating income by about $30-40 million in total, and consolidated net income by about $25-33 million in total. Tech Data announced that the restatement is required primarily because of improprieties in its U.K. subsidiary‚Äôs vendor accounting. The Company stated that it is currently investigating deficiencies in its internal controls over financial reporting. The Company also announced that it will seek a 15-day filing extension for its annual report for fiscal year ended January 31, 2013. 

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