PTC investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint, PTC designs, manufactures, and sells Product Lifecycle Management Systems software (i.e., software that manages a company’s products from design through manufacturing and distribution) and maintains operations in the Americas, Europe, and Asia Pacific, including China.
The Complaint alleges that throughout the Class Period, defendants issued false and misleading statements to investors and/or failed to disclose that: (1) PTC did not disclose to the SEC and the DOJ the full results of its investigation into whether PTC China improperly provided recreational travel to Chinese government officials in violation of the FCPA; (2) PTC was not cooperating with the SEC and the DOJ in connection with their investigations into whether PTC China improperly provided recreational travel to Chinese government officials in violation of the FCPA; (3) PTC’s books and records were inaccurate and PTC failed to maintain adequate internal accounting controls; and (4) as a result, PTC’s public statements were materially false and misleading at all relevant times.
The class period begins on November 23, 2011, when the PTC filed a Form 10-K for the fiscal year ended September 30, 2011 with the SEC, which provided the Company’s year-end financial results and position and stated that the Company’s internal control over financial reporting was effective as of September 30, 2011. On April 29, 2015, the Company issued a press release announcing its second quarter 2015 results, stating that PTC was making voluntary disclosures to the U.S. Securities and Exchange Commission and the Department of Justice, providing information to those agencies concerning expenditures by certain business partners in China and by our China business.
On July 29, 2015, during aftermarket hours the Company issued a press release announcing its third quarter 2015 results and announcing that it recorded a minimum liability of $13.6 million in connection with its previously disclosed China investigation, Following this news, shares of PTC fell $1.57 per share or approximately 4% from its previous closing price to close at $36.23 per share on July 30, 2015.
If you are a member of the class described above, you may no later than April 29, 2016 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at firstname.lastname@example.org. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
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