On or around 05/30/2018 (Other)
Filing Date: March 07, 2016
According to the law firm press release, the lawsuit alleges 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
On May 19, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended complaint on July 11.
The parties entered into a Stipulation of Settlement on March 1, 2017. This Settlement was preliminarily approved on March 23. The Court entered Final Judgment on July 14. On May 30, 2018, the Court issued an Order for distribution of Class Settlement funds.
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