NEW YORK--(BUSINESS WIRE)--
Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Cognizant Technology Solutions Corporation (NASDAQ: CTSH) stockholders concerning whether the company’s officers and board of directors violated the federal securities laws.
On September 30, 2016, Cognizant Technology filed a Form 8-K with the United States Securities and Exchange Commission announcing the abrupt resignation of its President, Gordon Coburn, on September 27, 2016. The Company also disclosed it “is conducting an internal investigation into whether certain payments relating to facilities in India were made improperly and in possible violation of the U.S. Foreign Corrupt Practices Act and other applicable laws[]” and “voluntarily notified the United States Department of Justice . . . and United States Securities and Exchange Commission . . . and is cooperating fully with both agencies.”
This news drove the price of Cognizant shares down as much as 17% during heavy intra-day trading on September 30, 2016. Bloomberg observed, “Coburn was the face of the company to investors.” The Company failed to reiterate its prior earnings guidance in the Form 8-K.
If you acquired Cognizant securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact J. Brandon Walker, Esq. by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information, please go to www.bespc.com.
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