SAN FRANCISCO, Oct. 24, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in Cognizant Technology Solutions Corp. (NASDAQ:CTSH) to the securities class action lawsuit filed in the U.S. District Court for the District of New Jersey and December 5, 2016 Lead Plaintiff deadline.
If you purchased or otherwise acquired securities of CTSH between February 25, 2016 and September 30, 2016 and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/CTSH
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing CTSH@hbsslaw.com.
On September 30, 2016, Cognizant filed its Form 8-K with the SEC announcing the abrupt resignation of its President, Gordon Coburn, on September 27, 2016. The Company also disclosed it was “conducting an internal investigation” into payments allegedly made by the Company for permitting in India that may violate the U.S. Foreign Corrupt Practices Act and other applicable laws.
Cognizant’s disclosures pushed shares down as much as 17% during heavy intra-day trading on September 30, 2016. The Company failed to reiterate its future earnings guidance in its 8-K filing.
“Though Cognizant notified the DOJ and SEC, we’re investigating the scope and duration of the Company’s possible corrupt practices and the circumstances surrounding Coburn’s departure,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Cognizant Technology should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email CTSH@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.