Computer software company PTC disclosed in an annual report last week that it is discussing a tentative $28.2 million settlement with the Department of Justice and the Securities and Exchange Commission to resolve an investigation of potential violations of the Foreign Corrupt Practices Act in China.
In its Form 10-K, issued Nov. 23, PTC said the tentative settlement for potential FCPA violations concerns “expenditures by our business partners in China and by our China business, including for travel and entertainment, that apparently benefited employees of customers regarded as state-owned enterprises in China.”
