The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of New Jersey on behalf of investors who purchased Cognizant Technology Solutions Corporation (NASDAQ: CTSH) securities between February 25, 2016 and September 30, 2016.
According to the complaint, Cognizant Technology officials failed to disclose in its Form 10-K for the fiscal year 2015 improper payments made by the Company for gaining permits and building licenses for some of its facilities in India. The complaint further alleges that the company lacked effective internal controls over financial reporting.
On September 30, 2016, Cognizant Technology announced the September 27, 2016 resignation of company president, Gordon Coburn. In a Form 8-K filed September 30, 2016, Cognizant Technology revealed that it is conducting an internal investigation involving possible violations of the U.S. Foreign Corrupt Practices Act and other applicable laws.
If you suffered a loss in Cognizant Technology you have until December 5, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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