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Robbins Arroyo LLP: Litigation Continues Against Cognizant Technology Solutions Corporation (CTSH)

November 7, 2018

SAN DIEGO & TEANECK, N.J.--(BUSINESS WIRE)--Nov 7, 2018--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Cognizant Technology Solutions Corporation (NasdaqGS: CTSH) breached their fiduciary duties to shareholders. Cognizant, a professional services company, provides consulting, technology, and outsourcing services worldwide.

Shareholder Class Action Alleging Defendants Made Materially False and Misleading Statements to Conceal Bribery Scheme Survives Motion to Dismiss

Investors filed a class action complaint against Cognizant for alleged violations of the Securities Exchange Act of 1934. According to the complaint, Cognizant officials engaged in an illegal bribery scheme by making improper payments to obtain permits and building licenses for some of the company’s facilities in India. In so doing, Cognizant failed to enforce the company’s controls related to real estate and procurement in connection with those facilities, all while falsely assuring investors that the company operated under strict compliance with its anticorruption policy. Further, Cognizant incorrectly allocated the bribes resulting in an overstatement of earnings. On August 8, 2018, Senior U.S. District Court Judge William H. Walls denied in part defendants’ motion to dismiss plaintiff’s complaint, paving the way for litigation to proceed.

View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/cognizant-technology-nov-2018/

Cognizant Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181107005975/en/

CONTACT: Robbins Arroyo LLP

Leonid Kandinov

600 B Street, Suite 1900

San Diego, CA 92101

LKandinov@robbinsarroyo.com

(619) 525-3990 or Toll Free (800) 350-6003

www.robbinsarroyo.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NEW JERSEY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Robbins Arroyo LLP

Copyright Business Wire 2018.

PUB: 11/07/2018 05:37 PM/DISC: 11/07/2018 05:37 PM

http://www.businesswire.com/news/home/20181107005975/en

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