Investigation announced for Investors in shares of Techtronic Industries Company Limited (OTC: TTNDY) over potential Wrongdoing

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Techtronic Industries Company Limited.

Investors who purchased shares of Techtronic Industries Company Limited (OTC: TTNDY) 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 Techtronic Industries Company Limited directors breached their fiduciary duties and caused damage to the company and its shareholders.

Hong Kong based Techtronic Industries Company Limited engages in the design, manufacture, and marketing of power tools, outdoor power equipment, and floorcare and cleaning products worldwide. Techtronic Industries Company Limited reported that its annual Total Revenue rose from over $9.81 billion in 2020 to over $13.2 billion in 2021, and that its Net Income increased from $800.76 million in 2020 to over $1.09 billion in 2021.

On February 22, 2023, 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, Techtronic disposes of large amounts of tangible assets, such as Property, Plant & Equipment, at near-total losses on sale, signifying that the Company is capitalizing routine business expenses into assets. The report also accused Techtronic of ignoring its own accounting policy on bad debt provisions in order to delay expenses.

Shares of Techtronic Industries Company Limited (OTC: TTNDY) declined from $69.90 per share on February 03, 2023, to as low as $48.30 per share.

Those who purchased shares of Techtronic Industries Company Limited (OTC: TTNDY) 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.