Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In PTC Inc. To Contact The Firm Before Lead Plaintiff Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in PTC Inc. (“PTC” or the “Company”) (NASDAQ:PTC) of the May 6, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of all those who purchased PTC securities between November 24, 2011 and July 29, 2015 (the “Class Period”). The case, Crandall v. PTC Inc. et al, No. 1:16-cv-10471 was filed on March 7, 2016, and has been assigned to Judge Mary Page Kelley.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failed to disclose that: (1) PTC failed to disclose and cooperate with the Securities and Exchange Commission (“SEC”) and the Department of Justice (“DOJ”) in connection with its investigation into whether PTC China improperly provided recreational travel to Chinese government officials in violation of the Foreign Corrupt Practices Act (“FCPA”); (2) PTC’s books and records were inaccurate and PTC failed to maintain sufficient internal accounting controls; and (3) as a result, the Company’s public statements were materially false and misleading.
Specifically, the lawsuit alleges that during aftermarket hours on July 9, 2015, the Company issued a press release announcing its preliminary third quarter 2015 results and announcing that it expects to record a minimum liability of approximately $13.6 million in connection with its previously disclosed China investigation. On this news, share price fell $2.00 to close at $38.78 per share, a ~5% drop, on July 10, 2015.
Additionally, the lawsuit alleges that during aftermarket hours on July 29, 2015, 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. On this news, share price fell $ $1.57 to close at $36.23 per share, a ~ 4% drop, on July 30, 2015.
If you invested in PTC stock or options between November 24, 2011 and July 29, 2015 and would like to discuss your legal rights, please fill out the form below or contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding PTC’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.