NEW ORLEANS, March 15, 2019 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 7, 2019 to file lead plaintiff applications in a securities class action lawsuit against Conduent, Inc. (NYSE: CNDT), if they purchased the Company's shares between February 21, 2018 and November 6, 2018 (the "Class Period"). This action is pending in the United States District Court for the District of New Jersey.
What You May Do
If you purchased shares of Conduent and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-cndt/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 7, 2019.
About the Lawsuit
Conduent and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 7, 2018, the Company disclosed negative Q3 and Q4 projected operating results due to "continued suboptimal performance from an inherited legacy technology vendor…stem[ming] from the vendor's inability to deliver on service level agreements, lack of responsiveness to Conduent's needs, and poorly structured contract which we inherited" Further, an "outdated and historically under-invested legacy IT infrastructure has caused major disruptions to our operations and impacted clients and delivery performance."
On this news, the price of Conduent's shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC