NEW YORK , March 31, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Amdocs Limited ("Amdocs" or the "Company") (NASDAQ: DOX). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Amdocs and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On March 31, 2021 , pre-market, Jehoshaphat Research published a short-seller report addressing Amdocs, which alleged, among other things, that: (1) Amdocs overstated its profits, evidenced by steady parent profits despite declining subsidiary profits; (2) there was a concerning pattern of reputable auditors resigning, only to be replaced by "scandal-plagued or tiny shops"; (3) Amdocs "window-dressed" its balance sheets to keep its large borrowing a secret; and (4) all of the foregoing was corroborated by former employees and direct competitors of the Company, including a former American Amdocs executive, who stated that the Company's "US business was declining at a rate of [around] 7% annually . . . but then we would see the company [publish results that] say North America is stable." On this news, Amdocs' stock price fell sharply during intraday trading on March 31, 2021 .
The Pomerantz Firm, with offices in New York , Chicago , Los Angeles , and Paris 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
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP