Arrests in PTC Japan Case

Dec 12, 2007

Arrests in PTC Japan Case

Through a filing with the SEC, PTC has now restated (lowered) its earnings by $41 million to account for the order fraud:

-$8 million in fiscal 2006.
-$15 million in fiscal 2005.
-$9 million in fiscal 2004.
-$2 million in fiscal 2003.
-$7 million in prior years.

Arrests have been made in the curious case of a Toshiba employees working with (now former) PTC Japan employees to enrich themselves. Details here.

Posted at 08:26 AM in The Courts | Permalink

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WorldCAD Access

talking about computers and design by Ralph Grabowski

Dec 12, 2007