BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith continues its investigation on behalf of Key Tronic Corporation (“Key Tronic” or the “Company”) (NASDAQ: KTCC) investors concerning the Company and its officers’ 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 $0.48, or approximately 6%, to close at $7.98 per share on February 11, 2021, thereby injuring investors.
If you purchased Key Tronic securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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