LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC (the “Firm”) announces the filing of a class action lawsuit against Cognizant Technology Solutions Corporation (“Cognizant” or the “Company”) (Nasdaq: CTSH) concerning possible violations of federal securities laws between February 25, 2016 and September 30, 2016, inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the December 5, 2016 lead plaintiff motion deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the complaint, Cognizant made false and/or misleading statements and/or failed to disclose that: the Company lacked effective internal controls over financial reporting; that certain improper payments were made for permits and building licenses for some of its facilities in India; and that as a result of the above, Cognizant’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 30, 2016, Cognizant announced that it would conduct an internal investigation into whether certain payments in India violated the U.S. Foreign Corrupt Practices Act. The Company also announced that its President resigned. When this information was disclosed to the public, shares of Cognizant lowered in value.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.