|Company name||Tandy Leather Factory|
NEW YORK, January 16, 2020 –Bragar Eagel and Squire is investigating certain officers and directors of Tandy Leather Factory, Inc. (NASDAQ: TLF) following a class action complaint that was filed against Tandy Leather on November 7, 2019.
The complaint alleges that throughout the class period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that certain costs of inventory had been improperly valued and expensed; (2) that, as a result, the Company’s financial results for certain periods were misstated; (3) that the Company lacked effective internal control over financial reporting; (4) that there was a material weakness in the Company’s internal control over financial reporting; and (5) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
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