Lawsuit for Investors in shares of Cognizant Technology Solutions Corp (NASDAQ: CTSH) announced by Shareholders Foundation
October 24 2016 - 10:25AM
The Shareholders Foundation, Inc. announces that a lawsuit was
filed in New Jersey on behalf of certain purchasers of shares of
Cognizant Technology Solutions Corp (NASDAQ:CTSH) over alleged
Securities Laws Violations by Cognizant Technology Solutions Corp.
The lawsuit seeks to recover damages for certain (NASDAQ:CTSH)
investors.
Investors who purchased shares of Cognizant Technology Solutions
Corp (NASDAQ:CTSH) have certain options and should contact the
Shareholders Foundation at mail@shareholdersfoundation.com or call
+1(858) 779 - 1554.
The plaintiff alleges that the defendants made false and/or
misleading statements and/or failed to disclose that Cognizant
Technology Solutions Corp lacked effective internal controls over
financial reporting, that certain improper payments were for
permits and building licenses for some of its 12 facilities in
India, and that as a result, defendants’ statements about Cognizant
Technology Solutions Corp’s business, operations and prospects were
materially false and misleading and/or lacked a reasonable basis at
all relevant times. When the true details entered the market, the
lawsuit claims that investors suffered damage.
On September 30, 2016, Cognizant Technology Solutions Corp
revealed that it "is conducting an internal investigation into
whether certain payments relating to facilities in India were made
improperly and in possible violation of the U.S. Foreign Corrupt
Practices Act and other applicable laws." Simultaneously, Cognizant
Technology Solutions Corp also announced its President, Gordon
Coburn's resignation.
Those who purchased Cognizant Technology Solutions Corp
(NASDAQ:CTSH) shares should contact the Shareholders Foundation,
Inc.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and a settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT: Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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