New China-Related Investigation

From the ‘investigations’ index of ethiXbase, here’s Massachusetts-based Parametric Technology Corporation’s FCPA disclosure in its latest Form 10-Q.

The company makes and sells life-management software. It first disclosed the investigation late last year.

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Excerpt     

We have undertaken an investigation of payments by certain business partners and expenses by certain employees in China that raise questions of compliance with laws, including the Foreign Corrupt Practices Act, and/or compliance with our business policies. The termination of certain employees and business partners in China in connection with this matter may have an adverse impact on our level of sales in China until such replacements for those employees and business partners are in place and productive. Revenue from China has historically represented 6% to 7% of our total revenue. We have voluntarily disclosed the results of our investigation and associated remedial actions to the United States Department of Justice and the Securities and Exchange Commission and are cooperating to provide additional information as requested. We are unable to predict the outcome of this matter, which could include fines or other sanctions.

Title                          Parametric Technology Corp. – 5/9/2012

Document URL     investigations_disclosure/memofile3 [pdf embedded]

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