METAIRIE, La., Jan. 17, 2008 (PRIME NEWSWIRE) -- The Law Offices of Eric J. O'Bell, LLC ("O'Bell") announces that it is commencing an investigation into TeleTech Holdings, Inc. ("TeleTech" or the "Company") (Nasdaq:TTEC) to determine whether it has violated federal securities laws by issuing materially false and misleading statements to shareholders.
TeleTech, a global business process outsourcing company, announced on November 8, 2007, that it was conducting a "REVIEW OF EQUITY-BASED COMPENSATION PRACTICES AND LIKELY RESTATEMENT OF PREVIOUS ISSUED FINANCIAL STATEMENTS" would be required -- possibly as far back as 1999. Upon publication of this news, shares of TeleTech declined materially, to levels almost 50% lower than where Company CEO and Chairman, Kenneth Tuchman liquidated almost $210 million of his personally held TeleTech shares, at the end of March 2007.
The nature and extent of the internal investigation remains confidential.
If you are a TeleTech shareholder, and/or have information that would assist in this ongoing investigation, or have other questions relating to a loss you've suffered in your investment, you may contact Eric J. O'Bell directly without obligation or cost to you at 504-456-8677; 504-616-9400 after hours; or by email to ejo@obelllawfirm.com.