An investigation on behalf of investors in Key Tronic Corporation (NASDAQ: KTCC) shares over potential wrongdoing at Key Tronic.
An investigation was announced over potential breaches of fiduciary duties by certain directors at Key Tronic Corporation.
Investors who purchased shares of Key Tronic Corporation (NASDAQ: KTCC) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Key Tronic directors breached their fiduciary duties and caused damage to the company and its shareholders.
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 the 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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