PTC Reaches Agreement With SEC And Department Of Justice, Will Pay $28.2 Million In Penalties

PTC Inc (NASDAQ: PTC) announced on Tuesday that it has reached an agreement with the U.S. Securities and Exchange Commission and the U.S. Department of Justice to resolve an investigation related to expenditures of certain former employees and business partners in China between 2006 and 2011.

PTC and its subsidiaries in China will pay $28.2 million in penalties and interests. The company has also implemented "extensive remedial measures" related to the matter, in addition to new compliance functions and enhancements to compliance programs.

Shares of PTC were trading higher by around 0.75 percent Tuesday afternoon at $28.84.