LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Amdocs Limited (“Amdocs” or “the Company”) (NASDAQ: DOX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Amdocs is the subject of a report published by Jehoshaphat Research on March 31, 2021. According to the report, the Company overstated its profitability. Jehoshaphat alleges that the Company replaced reputable auditors with “scandal-plagued or tiny shops.” It alleges the Company “window-dressed” its balance sheet to hide its borrowing. The report quotes a former Company executive as saying, “The 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.”
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