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Cognizant Technology Solutions Corporation

Case Summary

Cognizant Technology Solutions Corporation Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 08/08/2018 (Ongoing date of last review)

Filing Date: October 05, 2016

According to the law firm press release, the lawsuit alleges throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Cognizant lacked effective internal controls over financial reporting; (2) certain improper payments were for permits and building licenses for some of its 12 facilities in India; and (3) as a result, defendants’ statements about Cognizant’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damage.

On February 3, 2017, the Court appointed Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on April 7. On June 6, Defendants filed a Motion to Dismiss the amended Complaint. On August 8, 2018, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss the amended Complaint. Lead Plaintiff was given leave to file an amended Complaint.

Company & Securities Information

Defendant: Cognizant Technology Solutions Corporation

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CTSH
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Shane Park, et al. v. Cognizant Technology Solutions Corporation, et al.

COURT: D. New Jersey
DOCKET #: 16-CV-06509
JUDGE: Hon. William H. Walls
DATE FILED: 10/05/2016
CLASS PERIOD START: 02/25/2016
CLASS PERIOD END: 09/30/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm (New Jersey)
    236 Tillou Road, The Rosen Law Firm (New Jersey), NJ 07079
    (973) 313-1887 (973) 833-0399 · lrosen@rosenlegal.com
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violations of Federal Securities Laws 10/05/2016
2 U.S. District Court Civil Docket 10/05/2016
3 Order Appointing the Institutional Investor Group as Lead Plaintiff, Approving its Selection of Lead Counsel, and Consolidating Related Actions 02/03/2017
4 Order 08/08/2018

Reference Complaint

In re Cognizant Technology Solutions Corporation Securities Litigation

COURT: D. New Jersey
DOCKET #: 16-CV-06509
JUDGE: Hon. William H. Walls
DATE FILED: 04/07/2017
CLASS PERIOD START: 02/27/2015
CLASS PERIOD END: 09/29/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (New New York)
    1251 Avenue of the Americas, Bernstein Litowitz Berger & Grossmann LLP (New New York), NY 10020
    (212) 554-1400 (212) 554-1448 ·
  2. Lowenstein Sandler PC
    65 Livingston Avenue, Lowenstein Sandler PC, NJ 07068
    973.597.250 973.597.2400 · sthompson@lowenstein.com
  3. Motley Rice LLC (Mount Pleasant)
    28 Bridgeside Boulevard, Motley Rice LLC (Mount Pleasant), SC 29464
    843.216.9000 843.216.9450 · inquiry@motleyrice.com
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended Class Action Complaint for Violations of the Federal Securities Laws 04/07/2017
2 U.S. District Court Civil Docket 08/08/2018
3 Opinion 08/08/2018
 
 

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