NEW YORK, Sept. 30, 2016 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Cognizant Technology Solutions Corporation (“Cognizant” or the “Company”)
CTSH, -13.25%
(isin:US1924461023). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Cognizant and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
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On September 30, 2016, pre-market, the Company announced 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.” Concurrently, Cognizant announced the resignation of the Company’s President, Gordon Coburn.
On this news, Cognizant stock has fallen as much as $9.43, or 17.15%, to $45.57 during intraday trading on September 30, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP
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