SHAREHOLDER ALERT: The Law Offices of Timothy L. Miles Announces Tandy Leather Factory, Inc. (TLF) Sued for Misleading Shareholders; Tandy Sharehoders Urged to Contact the Firm

HENDERSONVILLE, TN / ACCESSWIRE / November 15, 2019 / The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 18 years, announces that a purchaser of Tandy Leather Factory, Inc. (TLF) filed a class action complaint against the company for alleged violations of the Securities Exchange Act of 1934 between March 7, 2018 and August 15, 2019. Tandy sells leather and leathercraft related items, such as tools, hardware, accessories, liquids, lace, kits, and teaching materials.

Tandy Leather Factory, Inc. (TLF) Accused of Material Misstatements Regarding its Financials

According to the complaint, throughout the class period, defendants attested to the accuracy of Tandy's financial reporting, but failed to disclose material adverse facts that certain costs of inventory had been improperly valued and expensed. On August 13, 2019, Tandy disclosed that its Audit Committee was investigating "certain aspects of the Company's methods of valuation and expensing of costs of inventory and related issues regarding the Company's business and operations." On August 15, 2019, Tandy filed a Notification of Late Filing with the SEC, stating that it was unable to timely file the company's quarterly reports for the period ended June 30, 2019, due to the Audit Committee's investigation. As a result, between August 13 and August 16, Tandy's stock declined almost 20%. Then, on August 18, 2019, Tandy revealed that certain financial statements should no longer be relied upon and that its Chief Financial Officer and Treasurer had resigned. The value of Tandy's stock has yet to recover.

Tandy Sharehoders Urged to Contact the Firm

If you purchased Tandy 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 Timothy L. Miles, Esquire, at 615-587-738, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2019 Top Rated Litigator and also as a 2019 Elite Lawyer of The South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2019); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo).

Contact:

Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.timmileslaw.com

SOURCE: The Law Offices of Timothy L. Miles

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