An investigation for investors in NASDAQ:MTSC shares over potential securities laws violations by MTS Systems and certain of its directors and officers was announced.
Investors who purchased shares of MTS Systems Corporation (NASDAQ:MTSC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of MTS Systems Corporation (NASDAQ:MTSC) concerning whether certain statements by MTS Systems regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
MTS Systems Corporation reported that its Total Revenue declined from $564.33 million for the 12 months period that ended on September 27, 2014 to $563.93 million for the 12 months period that ended on October 3, 2015 and that its Net Income for those respective time periods increased from $42.01 million to $45.46 million.
On November 29, 2016, MTS Systems Corporation announced that it would delay filing its Form 10-K with the U.S. Securities and Exchange Commission (“SEC”) due to purported violations of its code of conduct in China. MTS Systems Corporation detailed that certain individuals in leadership roles at the company had been associating with a competitor. MTS Systems Corporation further disclosed that it had initiated an internal investigation which would also delay the issuance of its fourth quarter and full year earnings.
Shares of MTS Systems Corporation (NASDAQ:MTSC) grew from $42.48 per share in June 2016 to as high as $57.00 per share on December 9, 2016.
On January 10, 2017, NASDAQ:MTSC shares closed at $57.35 per share.
Those who purchased NASDAQ:MTSC shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com