NEEDHAM, Mass., Nov. 25 /PRNewswire-FirstCall/ -- PTC (Nasdaq: PMTC) today
announced that it has filed a nine-count counterclaim against Rand A
Technology Corporation and Rand Technologies Limited in the U.S. District
Court for the District of Massachusetts, seeking damages, costs and attorneys
fees. In addition, PTC filed its response to the claims contained in Rand's
lawsuit against PTC, filed earlier this year. PTC has requested a jury trial.
As detailed in its filing, PTC's counterclaim asserts Rand's chronic
failure to meet obligations to PTC, Rand's unjustified blaming of PTC for
Rand's current financial and business position, and a destructive and
misleading public relations effort concerning this lawsuit that Rand has
commenced in an effort to harm PTC. PTC's counterclaim includes counts for
breach of contract, breach of the implied covenant of good faith and fair
dealing, interference with contractual and prospective relations, defamation,
unfair business practices and unfair competition.
With its counterclaim, PTC also filed its answer to Rand's allegations.
PTC's answer and counterclaim assert that Rand's damages claim is a device
intended to shock those unfamiliar with the details of the dispute.
The litigation between PTC and Rand remains in the early stages. PTC
believes that Rand's claims are without merit and intends to defend
aggressively those claims and to prosecute its counterclaims.
About PTC
PTC (Nasdaq: PMTC) develops, markets, and supports software solutions that
help manufacturers win with superior products. PTC is the world's largest
software company with a total commitment to product development and product
lifecycle management (PLM). The Company services more than 35,000 customers
worldwide. Further information on PTC is available at http://www.ptc.com.
Except for the historical information contained herein, matters discussed
in this news release constitute forward-looking statements that involve risks
and uncertainties that could cause actual results to differ materially from
those projected. These include our ability to contest and defend the Rand
lawsuit to avoid any adverse impact on our financial condition as well as
other risks and uncertainties detailed from time to time in reports filed by
PTC with the Securities and Exchange Commission, including the Company's most
recent reports on Form 10-K and 10-Q.
Investor Relations Contact: Public Relations Contact:
Meredith Mendola Joe Gavaghan
781-370-6151 781-370-5074
mmendola@ptc.com jgavaghan@ptc.com
SOURCE PTC
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Related links:
http://www.ptc.com
CONTACT:
Investor Relations, Meredith Mendola,
+1-781-370-6151, mmendola@ptc.com, or Public Relations, Joe
Gavaghan, +1-781-370-5074, jgavaghan@ptc.com, both of PTC
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