Tech Data Corp. Didn’t Mislead Investors After Merger, Judge Says

Tech Data Corp.‘s investors can’t pursue claims that the firm misled them about its post-merger performance and finances, a Florida federal court said Dec. 11.

The technology distribution firm told investors it was “executing extremely well” after its February 2017 merger with Technology Solutions, but it also warned them that full integration could prove difficult, Judge William F. Fung said, dismissing the suit with prejudice.

The Private Securities Litigation Reform Act mandates that would-be class plaintiffs must specifically describe any allegedly misleading statements. It also contains a safe harbor provision for optimistic or forward-looking statements, even if they’re ...