The investigation concerns a complaint filed in United States District Court for the District of New Jersey. The complaint alleges that Cognizant officials failed to disclose improper payments made by the Company for gaining permits and building licenses for some of its facilities in India.
Specifically, on September 30, 2016, Cognizant disclosed that it was conducting an internal investigation concerning whether certain payments relating to facilities in India were made improperly and in possible violation of the U.S. Foreign corrupt Practices Act. On this news, shares of Cognizant fell over 13%.
If you purchased shares of Cognizant between February 25, 2016 and September 30, 2016 and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/cognizant-technology-solutions-corporation-nasdaq-ctsh/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-brodsky--smith-llc-announces--an-investigation-of--cognizant-technology-solutions-corporation--ctsh-300365497.html
SOURCE Brodsky & Smith, LLC