[ACCESSWIRE]
RADNOR, PA / ACCESSWIRE / April 20, 2016 / The law firm of Kessler Topaz Meltzer & Check, LLP reminds PTC Inc. (NASDAQ: PTC) ("PTC" or the "Company") shareholders that a class action lawsuit has been filed on behalf of all purchasers of the Company's securities between November 24, 2011 and July 29, 2015,
inclusive (the "Class Period").
PTC shareholders who purchased their securities during the Class Period are reminded that they may, no
later than May 6, 2016, petition the Court to be appointed as a lead plaintiff representative of the class. For additional information please visit https://www.ktmc.com/new-cases/ptc-inc#join.
The shareholder class action complaint alleges that PTC and certain of its executive officers made a series of false and misleading statements and failed to disclose material adverse facts to investors about the Company's business and operations. Among other things, the defendants are alleged to have failed to disclose to the U.S. Securities and Exchange Commission ("SEC") and the Department of Justice ("DOJ") the full results of the Company's investigation into whether PTC China improperly provided recreational travel to Chinese government officials in violation of the Foreign Corrupt Practices Act ("FCPA").
On July 29, 2015, PTC issued a press release reporting, among other things, that the Company had "recorded a liability of $13.6 million associated with pending discussions" with the SEC and DOJ to resolve their investigations of PTC. Further, the Company reported that $13.6 million was "the minimum amount of liability" that it expected to incur if it ultimately settled the SEC and DOJ investigations. Following this news, shares of PTC's stock declined $1.57 per share, or over 4%, to close on July 30, 2015 at $36.23 per share.
PTC shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or at [email protected].
Members of the purported class may petition the Court to be appointed as a lead plaintiff through Kessler Topaz Meltzer & Check or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. In order to be appointed as a 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 in the action.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
D. Seamus Kaskela, Esq.
Adrienne O. Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299-7706
(610) 667-7706
[email protected]
SOURCE: Kessler Topaz Meltzer & Check, LLP
