Investigation announced for NASDAQ: KTCC Investors over possible Wrongdoing at Key Tronic Corporation

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 mail@shareholdersfoundation.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.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

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 lawsuits, 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.