Case Background:
On October 5, 2016, the initial complaint in this securities class action was filed against Cognizant Technology Solutions Corporation (“Cognizant” or the “Company”), and certain of Cognizant’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all persons and entities who purchased, or otherwise acquired, Cognizant common stock from February 27, 2015, through September 29, 2016, both dates inclusive (the “Class Period”).
The complaint alleges that in order to conceal an illicit bribery scheme, Defendants made, and caused to be made, false and misleading statements and omissions in Cognizant’s SEC filings and sustainability reports.
Current Status of Case:
On June 5, 2020, the Court denied Defendants’ Motion to Dismiss Plaintiffs’ Second Amended Class Action Complaint. On September 7, 2021, Lead Plaintiffs filed a Motion for Preliminary Approval of Settlement. On September 9, 2021, the Court issued an Order Preliminarily Approving Settlement. On November 8, 2021, Lead Plaintiffs filed a Motion for Final Approval of Settlement. On December 20, 2021, a Final Settlement Hearing occurred and the Court issued an Order granting Plaintiffs’ Motion for Final Approval of Settlement and entered Final Judgment. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com.