SAN DIEGO & NEW HARTFORD, N.Y.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Par Technology Corporation (NYSE: PAR) violated federal securities laws by issuing materially false and misleading statements regarding the company's business and operations. Par, together with its subsidiaries, provides management technology solutions worldwide.
View this press release on the firm's Shareholder Rights Blog:
Par Technology May Have Violated the U.S. Foreign Corrupt Practices Act
On May 15, 2017, Par Technology filed its Form 10-Q with the U.S. Securities and Exchange Commission ("SEC"), in which it revealed that certain import/export and/or documentation of sales activities at the company's China and Singapore offices were improper and in possible violation of the U.S. Foreign Corrupt Practices Act and other applicable laws and company policies. On May 1, 2017, Par received a subpoena from the SEC relating to the company's investigation. Par further noted that the company could be exposed to a broad range of civil and criminal sanctions and that "the imposition of sanctions, fines or remedial measures could have a material adverse effect on the Company's business, prospects, reputation, financial condition, liquidity, results of operations or cash flows."
Par Technology Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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