May 28, 2017 (Shareholders Foundation) - An investigation on behalf of investors of PAR Technology Corporation (NYSE:PAR) shares over potential securities laws violations by PAR Technology and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of PAR Technology Corporation (NYSE:PAR) concerning whether a series of statements by PAR Technology regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New Hartford, NY based PAR Technology Corporation is a provider of systems and service solutions for the hospitality industry.
On May 15, 2017, PAR Technology Corporation announced its 2017 first quarter results and 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. PAR Technology Corporation disclosed that on May 1, 2017, PAR Technology Corporation announced received a subpoena from the SEC relating to the company's investigation. PAR Technology Corporation announced 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 Corporation reported that its annual Total Revenue rose from $229 million in 2015 to $229.65 million in 2016 and that its Net Loss of $0.89 million in 2015 turned into a Net Income of $1.78 million in 2016.

Shares of PAR Technology Corporation (NYSE:PAR) grew from $4.50 per share in May 2016 to as high as $8.57 per share on May 26, 2017.