HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages U.S.-Based Investors in Techtronic Industries Company Limited (TTNDY) to Contact Firm’s Attorneys, Firm Investigating Possible Securities Law Violations

/EIN News/ -- SAN FRANCISCO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Hagens Berman is investigating possible securities laws violations by Techtronic Industries Company Limited (OTHER OTC: TTNDY) and urges U.S.-based investors who purchased TTNDY over-the-counter to submit your losses now.

Visit: www.hbsslaw.com/investor-fraud/TTNDY
Contact An Attorney Now: TTNDY@hbsslaw.com | 844-916-0895

Techtronic Industries Company Limited (TTNDY) Investigation:

The investigation focuses on the accuracy of Techtronics’ reported financial results.

Hong Kong power tool maker Techtronics has gained U.S.-based investors’ attention by reporting improved gross profit margin every half-year, sequentially, for ten years straight – a feat no other public company with over $1 billion revenue in the entire world can claim.

Techtronics’ earnings recently came into question on Feb. 22, 2023, when Jehoshaphat Research published a report alleging that the company has been “inflating its profits dramatically for over a decade with manipulative accounting.”

Specifically, Jehoshaphat Research accuses the company of deceptively managing costs “[b]y stuffing billions of dollars’ worth of routine expenses into various asset accounts, year after year;” an accounting trick referred to as “snowballing.”

Jehoshaphat Research observes that every year, TTI disposes of large amounts of tangible assets, such as Property, Plant & Equipment, at near-total losses on sale – signifying the company is capitalizing routine business expenses into assets.

The report also accused the company of ignoring its own accounting policy on bad debt provisions to delay expenses.

On this news, Techtronics’ share price declined sharply.

“We’re focused on investors’ losses and whether Techtronics has engaged in profit manipulation,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Techtronic Industries and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Techtronic Industries should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email TTNDY@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895