An investigation on behalf of investors in NASDAQ:CTSH shares over potential wrongdoing at Cognizant Technology Solutions Corp was announced and NASDAQ:CTSH stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/14/2017 -- Certain directors of Cognizant Technology Solutions are under investigation over potential misconduct. The investigation was announced on behalf of current long-term investors in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) over potential breaches of fiduciary duties by certain directors at Cognizant Technology Solutions Corp
Investors who purchased shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) and currently hold any of those NASDAQ:CTSH shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm concerns whether certain Cognizant Technology Solutions directors breached their fiduciary duties and caused damage to the company and its shareholders.
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.
On October 5, 2016, a lawsuit was filed against Cognizant Technology Solutions Corp over alleged false and misleading statements. The plaintiff alleged on behalf of purchasers of Cognizant Technology Solutions Corp (NASDAQ:CTSH) common shares between February 25, 2016 and September 30, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 25, 2016 and September 30, 2016 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.
Those who purchased shares of Cognizant Technology Solutions Corp have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego