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Shareholder Class Action Filed Against Cognizant Technology Solutions Corporation

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Cognizant Technology Solutions Corporation (NASDAQ: CTSH) (“Cognizant” or the “Company”) securities between February 25, 2016 and September 30, 2016, both dates inclusive (the “Class Period”)

Cognizant investors may receive additional information about the case by clicking the link "Join this Class Action" above. 

According to the complaint, Cogniznat provides information technology (IT), consulting, and business process services worldwide. The Company’s development and delivery centers and technical professionals are positioned globally, with the majority located in India.

The complaint alleges that defendants, throughout the Class Period, 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.

On September 30, 2016, the Company announced that the Company’s President, Gordon Coburn, resigned from his position on September 27, 2016. That same day, the Company filed a Form 8-K with the SEC revealing, among other things, that it was conducting a corruption probe which, according to an article published on October 4, 2016 by The Indian Express, “[t]he investigation is currently focused on improper payments such as building licen[s]es, permits, etc., involving a small number of Company-owned facilities in India.”

Following this news, shares of the Company fell $7.29 per share or over 13% to close at $47.71 per share on September 30, 2016.

If you are a member of the class described above, you may no later than December 5, 2016 move the Court to serve as lead plaintiff of the class, if you so choose. 
 
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  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 toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for Cognizant Technology Solutions Corporation (NASDAQ: CTSH) securities between February 25, 2016 and September 30, 2016, both dates inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Cognizant Technology Solutions Corporation prior to the class period?
Are you a current or former employee of Cognizant Technology Solutions Corporation ?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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