A lawsuit was filed on behalf of investors in Cognizant Technology Solutions Corp (NASDAQ:CTSH) shares over alleged securities laws violations. Deadline: December 5, 2016. NASDAQ:CTSH investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/11/2016 -- An investor, who purchased shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH), filed a lawsuit in New Jersey over alleged Securities Laws violations by Cognizant Technology Solutions Corp.
Investors who purchased shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) have certain options and for certain investors are short and strict deadlines running. Deadline: December 5, 2016. NASDAQ:CTSH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges 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.
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. Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) declined on September 30, 2016 to as low as $45.44 per share.
Those who purchased shares of Cognizant Technology Solutions Corp have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com