An investigation for investors in Key Tronic Corporation (NASDAQ: KTCC) shares over potential securities laws violations.
An investigation on behalf of investors of Key Tronic Corporation (NASDAQ: KTCC) shares over potential securities laws violations by Key Tronic Corporation and certain of its directors and officers in connection with certain financial statements was announced.
Investors who purchased shares of Key Tronic Corporation (NASDAQ: KTCC), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Key Tronic Corporation (NASDAQ: KTCC) concerning whether a series of statements by Key Tronic Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Spokane Valley, WA based Key Tronic Corporation, doing business as KeyTronicEMS Co., provides electronic manufacturing services (EMS) and solutions to original equipment manufacturers in the United States and internationally. Key Tronic Corporation reported that its Total Revenue declined from $464.04 million for the 12 months period that ended on June 30, 2019, to $449.48 million for the 12 months period that ended on June 30, 2020, and that its Net Loss of $7.98 million for the 12 months period that ended on June 30, 2019, turned into a Net Income of $4.75 million for th 12 months period that ended on June 30, 2020.
On February 10, 2021, Key Tronic Corporation (NASDAQ: KTCC) reported that it had “received a notification from an employee regarding irregularities of the classification of inventory between raw material and work-in-process at a production facility.” As a result, the Company could not timely file its quarterly report for the period ended December 26, 2020 while it conducted an internal investigation into the accounting matters.
Shares of Key Tronic Corporation (NASDAQ: KTCC) declined from $9.38 per share on February 8, 2021, to $7.62 per share on February 12, 2021.
Those who purchased shares of Key Tronic Corporation (NASDAQ: KTCC) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This release was published on openPR.