SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Amdocs Limited (DOX)
NEW YORK, Jan. 23, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Amdocs Limited (“Amdocs” or the “Company”) (NASDAQ: DOX). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/dox.
The investigation concerns whether Amdocs and certain of its officers and/or directors have violated federal securities laws.
On January 23, 2018, Spruce Point Management (“Spruce Point”) published a report on Amdocs, characterizing the Company as “a cryptic entity” that “has engineered superficial top and bottom-line growth alongside unusually stable margins through opaque M&A, aggressive percentage-of-completion accounting, software cost capitalization, and repeated one-off net tax benefits.” The Spruce Point report further asserted that “[w]ith insider ownership at an all-time low, evidence that management is milking [Amdocs’] cash through aggressive option comp schemes, and Board members tied to allegations of option back-dating and software cost capitalization, we believe that shareholders should keep a vigilant eye on management’s accounting practices and compensation decisions.” Following publication of the Spruce Point report, Amdocs’ stock price fell sharply during intraday trading on January 23, 2019.
If you are aware of any facts relating to this investigation, or purchased Amdocs shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/dox. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | firstname.lastname@example.org