Key Developments: Tech Data Corp (TECD.O)

TECD.O on Nasdaq

66.80USD
28 Aug 2014
Price Change (% chg)

$-0.31 (-0.46%)
Prev Close
$67.11
Open
$66.78
Day's High
$67.00
Day's Low
$66.38
Volume
421,410
Avg. Vol
237,321
52-wk High
$71.31
52-wk Low
$48.35

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Latest Key Developments (Source: Significant Developments)

Tech Data Corp Announces Partnership With LANDesk Software
Wednesday, 3 Jul 2013 09:41am EDT 

Tech Data Corporation announced that its partnership with LANDesk Software, which acquired Shavlik Technologies earlier this year, to offer Shavlik's products and services to its channel of more than 60,000 resellers. Shavlik, offers two primary product lines: Protect and SCUPDates. Both are immediately available for purchase through Tech Data's Advanced Infrastructure Solutions (AIS) division.  Full Article

The Young Law Firm Announces Investigation Of Tech Data Corp
Tuesday, 30 Apr 2013 01:03pm EDT 

The Young Law Firm announced that it is investigating potential claims on behalf of investors in Tech Data Corporation (Tech Data or the Company) concerning possible violations of federal securities laws. The investigation concerns how the Company reported income. Tech Data distributes technology products. On March 21, 2013, the Company announced that its Audit Committee had concluded that the Company would 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 its fourth quarter and fiscal year 2013 earnings release dated March 4, 2013. Accordingly, the Company advised that investors should no longer rely upon the Company's previously released financial statements and other financial data relating to these periods. The Company further stated that it anticipated that the restatement would be made to correct improprieties primarily related to how the Company's U.K. subsidiary reflected vendor accounting and that the Company estimated that the restatement will reduce previously reported consolidated operating income by an aggregate amount of approximately $30 million to $40 million, and consolidated net income by an aggregate amount of approximately $25 million to $33 million, over the three fiscal year periods.  Full Article

Holzer Holzer & Fistel, LLC Announces Investigation into Tech Data Corp
Tuesday, 16 Apr 2013 10:08am EDT 

Holzer Holzer & Fistel, LLC announced that it is investigating whether Tech Data Corp (Tech Data or the Company) and/or certain of its officers and directors complied with state and federal laws in making public statements between May 23, 2011 and March 21, 2013. On March 21, 2013, after the market closed, Tech Data issued a press release disclosing that the Company would be restating its previously issued financial statements for some or all of its 2011 and 2012 fiscal years and some or all of the Company`s 2013 fiscal quarters, due to improprieties related to how the Company`s U.K. subsidiary reflected vendor accounting.  Full Article

Law Offices of Todd M. Garber Announces Investigation Of Tech Data Corp
Friday, 5 Apr 2013 09:29pm EDT 

The Law Offices of Todd M. Garber announced that it is investigating potential claims against Tech Data Corp concerning possible violations of federal securities laws. Tech Data engages in the wholesale distribution of technology products in North America, South America, Europe, the Middle East and Africa. The investigation is related to the Company’s March 21, 2013 announcement that it will restate certain of its financial results for its 2011, 2012 and 2013 fiscal years. The Company has stated investors should no longer rely on its financial data reported for these periods. The restatement will reduce previously reported consolidated operating income by approximately $30-40 million, and consolidated net income by approximately $25-33 million. According to the Company, “the restatement will be made to correct improprieties related to how the Company’s U.K. subsidiary reflected vendor accounting.” In addition, the Company will likely seek a 15-day filing extension for its Annual Report on Form 10-K for the fiscal year ended January 31, 2013.  Full Article

Ryan & Maniskas, LLP Announces Investigation Of Tech Data Corp
Monday, 1 Apr 2013 04:15pm EDT 

Ryan & Maniskas, LLP announced that it has commenced an investigation into potential securities law violations by certain officers of Tech Data Corp. (Tech Data or the Company). The investigation focuses on allegations that certain statements issued by the Company regarding the Company's business, operations and financial condition were false and misleading. The investigation is related to the Company's March 21, 2013 announcement that it will restate certain of its financial results for its 2011, 2012 and 2013 fiscal years. The Company said investors should no longer rely on the financial data reported relating to these periods. The restatement will reduce previously reported consolidated operating income by approximately $30-40 million and consolidated net income by approximately $25-33 million. According to the Company, "the restatement will be made to correct improprieties related to how the Company's U.K. subsidiary reflected vendor accounting. In addition, the Company will likely seek a 15-day filing extension for its Annual Report on Form 10-K for the fiscal year ended January 31, 2013.  Full Article

Glancy Binkow & Goldberg LLP Announces Investigation Of Tech Data Corp
Tuesday, 26 Mar 2013 08:30pm EDT 

Glancy Binkow & Goldberg LLP announced that it is investigating potential claims on behalf of investors of Tech Data Corporation (Tech Data or the Company) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by Tech Data regarding the Company`s financial performance were false and misleading. The investigation is related to the Company`s March 21, 2013 announcement that it will restate certain of its financial results for its 2011, 2012 and 2013 fiscal years. The Company said investors should no longer rely on the financial data reported relating to these periods. The restatement will reduce previously reported consolidated operating income by approximately $30-40 million, and consolidated net income by about $25-33 million. According to the Company, the restatement will be made to correct improprieties related to how the Company`s U.K. subsidiary reflected vendor accounting. In addition, the Company will likely seek a 15-day filing extension for its Annual Report on Form 10-K for the fiscal year ended January 31, 2013.  Full Article

Harwood Feffer LLP Announces Investigation of Tech Data Corp
Friday, 22 Mar 2013 05:04pm EDT 

Harwood Feffer LLP announced that it is investigating potential claims against the board of directors of Tech Data Corp (TECD or the Company), concerning whether the board has breached its fiduciary duties to shareholders. On March 21, 2013, the Company disclosed that due to accounting improprieties it will be forced to restate its financial results for all years and quarters from 2011 through the present. The restatement will result in a reduction of previously reported operating income and net income by up to $40 million and $33 million, respectively. Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.  Full Article

Levi & Korsinsky, LLP Launches Investigation into Possible Breaches of Fiduciary Duty by Tech Data Corp
Friday, 22 Mar 2013 02:33pm EDT 

Levi & Korsinsky announced that it is investigating potential claims on behalf of purchasers of Tech Data Corp (Tech Data or the Company) securities concerning possible violations of securities laws. The investigation stems from Tech Data`s announcement that the Company expects to restate its previously reported financial results for 2011, 2012 and 2013. 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. According to the Company, the restatement concerns how the Company`s U.K. subsidiary reflected vendor accounting. Tech Data is seeking a 15-day filing extension for its annual report for the fiscal year ended January 31, 2013.  Full Article

Lifshitz Law Firm Announces Investigation of Tech Data Corp
Friday, 22 Mar 2013 11:16am EDT 

Lifshitz Law Firm announced that it is investigating potential claims against the board of directors of Tech Data Corp (Tech Data or the Company). On March 21, 2013, The Company reported that its Audit Committee concluded that the Company 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 the fourth quarter and fiscal year 2013 earnings release dated March 4, 2013. Accordingly, investors should no longer rely upon the Company's previously released financial statements.  Full Article

Shareholder Law Firm Finkelstein Thompson LLP Investigates Potential Claims By Tech Data Corp Shareholders
Friday, 22 Mar 2013 10:29am EDT 

Shareholder law firm Finkelstein Thompson LLP is investigating potential claims on behalf of Tech Data Corporation, whose share price declined after it disclosed its intent to restate some or all of its financial statements for 2011, 2012, and 2013. On March 21, 2013, Tech Data disclosed this restatement, stating in part that it would be made to correct improprieties primarily related to how the Company's UK subsidiary reflected vendor accounting." The Company further indicated the restatement may "reduce previously reported consolidated operating income by an aggregate amount of approximately $30 million to $40 million, and consolidated net income by an aggregate amount of approximately $25 million to $33 million, over the three fiscal year periods and, additionally, disclosed it was in the process of evaluating deficiencies in its internal controls over financial reporting. Following these revelations, Tech Data`s share price plummeted, losing value. Finkelstein Thompson is investigating what remedies may be available to Tech Data shareholders to recover those losses, and whether the actions to these losses were the result of breaches of fiduciary duties by the Company`s management.  Full Article

DIARY-U.S. MEETINGS/WEEK AHEAD

THOMSON REUTERS, May 16,2014 - Corporate Meetings for US companies for Week ahead. S&P 500 Earnings - Weekly S&P 500 Earnings - Day Ahead Non S&P 500 - Weekly Non S&P 500 - Day Ahead ConferenceCall/Webcast - Weekly ConferenceCall/Webcast - Day S&P 500 Earnings - Monthly Meetings - Day Ahead Economic Indicators Dividends Daily earnings hits & misses Federal Rese

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