SAN DIEGO, CA / ACCESSWIRE / March 6, 2017 / The Shareholders Foundation, Inc. announces that lawsuits were filed by investors in (NASDAQ: CTSH) shares against certain directors of Cognizant Technology Solutions Corp over alleged breaches of fiduciary duties.

Investors who purchased shares of Cognizant Technology Solutions Corp (NASDAQ: CTSH) in January 2016 or earlier and continue to hold any of those (NASDAQ: CTSH) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On September 30, 2016, Cognizant Technology Solutions Corp revealed that 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." Simultaneously, Cognizant Technology Solutions Corp also announced its President, Gordon Coburn's resignation.

Multiple lawsuits were filed by current investors in Cognizant Technology Solutions Corp (NASDAQ: CTSH) against certain current and former officers of Cognizant Technology Solutions Corp over alleged breaches of fiduciary duties in connection with potential violations of the U.S. Foreign Corrupt Practices Act ("FCPA"). The plaintiffs allege among other things that certain of Cognizant Technology Solutions' public disclosures were false and misleading by failing to disclose that payments allegedly in violation of the FCPA had been made and by asserting that management had determined that Cognizant Technology Solutions' internal controls were effective. Furthermore, it is alleged certain current and former company executives sold almost $40 million of personally held shares of Cognizant Technology Solutions Corp stock at allegedly artificially inflated prices when they knew about the bribery scandal that had been concealed from investors.

The plaintiffs claim that as a result of the individual defendants' alleged false and misleading statements and omissions, Cognizant Technology Solutions Corp shares traded at artificially inflated prices during the relevant period, and that once the true facts regarding the company's financial prospects and future business prospects began to emerge, Cognizant Technology Solutions Corp's stock price fell dramatically, erasing hundreds of millions of dollars in market capitalization.

Those who purchased shares of Cognizant Technology Solutions Corp (NASDAQ: CTSH) in January 2016 or earlier and continue to hold any of those (NASDAQ: CTSH) shares should contact the Shareholders Foundation, Inc at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.