James (Josh) Wilson, a securities litigation partner, encourages investors who have lost more than $50,000 in the Tektronix industry to contact him directly to discuss their options.
NEW YORK, NY–(Newsfile Corp. – March 10, 2023)–Faruqi & Faruqi, LLP, one of the nation’s leading securities law firms, has announced that Techtronic Industries Company Limited (“Techtronic Industries” or the “Company”) We are investigating your claim. ) (OTC Pink: TTNDY).
Lost more than $50,000 on your investment in Techtronic Industries stock or options Call Faruqi & Faruqi Partners if you want to discuss your legal rights Josh Wilson Direct and 877-247-4292 again 212-983-9330 (ext. 1310). again, Click here for more information. www.faruqilaw.com/TTNDY.
There are no costs or obligations on you.
Faruqi & Faruqi is a leading minority- and women-owned securities law firm with offices in New York, Pennsylvania, California and Georgia.
Hong Kong power tool maker Techtronics has captured the attention of US-based investors by reporting 10 straight years of gross margin improvement every six months.
Techtronics’ earnings were called into question on February 22, 2023, when Jehoshaphat Research released a report alleging that the company had “dramatically inflated its profits through accounting fraud for more than a decade.”
Specifically, Jehoshaphat Research accuses the company of mismanaging costs.”[b]Billions of dollars worth of recurring expenses are crammed into various asset accounts each year, an accounting trick known as the “snowball.”
Observations by Jehoshaphat Research show that TTI disposes of large amounts of tangible assets such as real estate, factories and equipment each year for near loss on sale. This shows that the company invests regular business expenses in assets.
The report also accused the company of ignoring its own accounting policy on bad debt provisions to delay costs.
Shares of Tektronix plummeted on the news.
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