NEW YORK–(BUSINESS WIRE)–$KTCC–The law firm of Kirby McInerney LLP is investigating potential claims against Key Tronic Corporation (“Key Tronic” or the “Company”) (NASDAQ: KTCC). The investigation focuses on the Company’s possible violations of federal securities laws.
On February 10, 2021, Key Tronic 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.
On this news, the Company’s stock price fell approximately 5.7%, or $0.48 per share, to close at $7.98 per share on February 11, 2021.
If you purchased or otherwise acquired Key Tronic securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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