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Techtronic Industries (TTNDY) Manipulative Accounting Case
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- In February 2023, Jehoshaphat in its report alleged Techtronic Industries inflating its profits dramatically for over a decade.
- On it, $TTNDY fell 5.7%, losing $1.3B+ of shareholder value.
- Investors may suspect that Techtronic of manipulative accounting, which led to their losses.
On February 22, 2023, Jehoshaphat Research published a report alleging that Techtronic has been inflating its profits for over a decade with manipulative accounting, namely by classifying billions of dollars worth of routine expenses as various assets. The report also expressed doubts that the Company would be able to meet expectations for profit to continue its upward trajectory in 2023.
On this news, $TTNDY fell 5.7% and lost over $1.3 billion of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that Techtronic manipulated its accounting and reported inflated profits, which led to its losses.
The case is already under investigation by at least one of the reputable law firms.
Failure to Disclose,
Shock Event Date
22 February 2023