NEW YORK, March 24, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Techtronic Industries Company Limited TTNDY due to allegations that Techtronic disclosed potentially materially misleading business information to the investing public.

SO WHAT: If you have purchased Techtronic securities, you may be entitled to compensation without payment of expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=12551 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.

WHAT IS THIS ABOUT: On February 22, 2023, Jehoshaphat Research released a report claiming that the company “has been dramatically inflating its profits through manipulative accounting for over a decade.” Specifically, Jehoshaphat Research accuses the company of misleading cost management.[b]y Stuffing billions of dollars worth of routine expenses into various asset accounts, year after year; an accounting ploy known as the “snowball effect.” Plant & Equipment posted near-complete losses on sale, suggesting the company capitalizes routine business expenses in assets. The report also accused Techtronic of ignoring its own accounting policy for bad debt provisions to delay expenses.

As a result of this news, Techtronic’s stock price fell $3.55 per share, or 5.7%, to close at $58.70 per share on February 22, 2023.

WHY ROSES LAW: We encourage investors to select qualified advisors with a track record in leadership positions. Exhibiting companies often do not have comparable experience,…

[ad_2]

Source story