A law firm has launched an investigation on behalf of a group of top investors to ascertain whether a number of Tech Data officers and directors "breached their fiduciary duties".
The probe comes in light of the revelation last month that the distribution giant will be restating some or all of three years' worth of quarterly accounts having discovered accounting improprieties in its UK business. A number of legal firms were quick to announce that they were examining whether company execs contravened any state or federal laws.
Investors appear to have retained the services of one such law firm, according to a statement issued today by settlement recovery and portfolio monitoring specialist Shareholders Foundation.
"The investigation by a law firm concerns whether certain Tech Data officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by failing to implement adequate internal controls," explains the statement.
Shareholders Foundation encourages any long-term investors to get in touch to find out more.
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