(Reuters) - MTS Systems Corp, a maker of industrial sensors, said on Tuesday it was investigating apparent violations of its code of conduct involving some top executives in its China operations.
“We recently discovered that certain individuals in our leadership in China appear to have violated MTS’s code of conduct, including association with an independent business that may compete with MTS in certain markets,” MTS said in statement.
The company said the probe would delay the filing of its annual report and fourth-quarter financial results.
Shares of Minnesota-based MTS Systems were down nearly 9 percent in morning trading.
Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sai Sachin Ravikumar