NEW YORK, Oct.1, 2014
/PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz &
Grossman, LLC is investigating potential claims on behalf of
purchasers of the American Depositary Receipts ("ADRs") of Tesco
PLC ("Tesco" or the "Company") (OTC: TSCDY -News). Such investors
are advised to contact Peretz
Bronstein or his investor relations coordinator Eitan Kimelman at info@bgandg.com or
212-697-6484.
The investigation focuses on whether the Company and certain of
its executives violated federal securities laws.
On September 22, 2014, Tesco
disclosed that it is investigating the overstatement of its profit
forecast for 2015 by approximately $408.8
million. According to the Company, the overstatement of its
2015 forecast was due to the early booking of revenue and delayed
recognition of costs. The Company's chief executive officer told
analysts and investors during a conference call that an "informed
employee" voiced concerns to the Company's general counsel about
the accounting issue, and that a "a number of people," including
four senior executives, have been suspended pending the conclusion
of the Company's investigation.
On this news, shares of Tesco fell $1.68 or 14% during intraday trading to trade at
$9.61 on September 22, 2014.
If you are aware of any facts relating to this investigation, or
purchased Tesco ADRs, you can assist this investigation by
contacting Peretz Bronstein or his
Investor Relations Coordinator Eitan
Kimelman of Bronstein, Gewirtz & Grossman, LLC at
212-697-6484 or via email info@bgandg.com. Those who inquire
by e-mail are encouraged to include their mailing address, email
and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not guarantee
similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
info@bgandg.com
SOURCE Bronstein, Gewirtz & Grossman, LLC
