Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Cognizant Technology Solutions
Corporation Investors and Encourages Investors to Contact the Firm
Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of
investors who purchased Cognizant Technology Solutions Corporation (“Cognizant” or the “Company”) (NASDAQ: CTSH) securities between February 25, 2016 and September 30, 2016, inclusive (the “Class Period”).
Cognizant investors have until December 5, 2016 to file a lead plaintiff motion.
Investors suffering losses on their Cognizant investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
The complaint alleges that, Cognizant Technology officials failed to disclose in its Form 10-K for the fiscal year 2015 improper
payments made by the Company for gaining permits and building licenses for some of its facilities in India. The complaint further
alleges that the company lacked effective internal controls over financial reporting.
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.”
Additionally, Cognizant announced the resignation of the Company’s President, Gordon Coburn.
On this news, shares of Cognizant fell over 13% to close at $47.71 per share on September 30, 2016, thereby injuring
investors.
If you purchased shares of Cognizant during the Class Period you may move the Court no later than December 5,
2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of
the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite
2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number
of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
https://www.glancylaw.com
shareholders@glancylaw.com
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