Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Amdocs Limited
NEW YORK, April 22, 2021 (GLOBE NEWSWIRE) – Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a lead plaintiff motion in a class action lawsuit filed on behalf of investors who bought or acquired the securities of Amdocs Limited (“Amdocs” or the “Company”) (NASDAQ: DOX) from December 13, 2016 through March 30, 2021 (the “Class Period”). The lawsuit was filed in the US District Court for the Central District of California alleging violations of the Securities Exchange Act of 1934.
If you Amdocs securities purchased and / or wish to discuss your statutory rights and options Please visit DOX Shareholder’s class action lawsuit or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
The complaint alleges that throughout the classroom period, the defendants made materially false and misleading statements about the company’s business, operational, and compliance policies. In particular, Defendants have made false and / or misleading statements and / or failed to disclose that: (i) Amdocs overestimated its earnings, cash and liquidity while underestimating its debt; (ii) Amdocs has kept silent about its large borrowing; (iii) While the results reported by Amdocs showed that North American business was stable, business actually deteriorated annually, in part because the company lost AT&T as a customer; and (iv) as a result, the Company’s public statements at all relevant times have been materially false and misleading.
On March 31, 2021, Josaphat Research released a report that was the result of a month-long investigation into “massive financial fraud at Amdocs”. The report alleged that Amdocs had overstated its earnings by “~ 40-50%, or up to $ 200 million”.
In the news, Amdocs’ stock price fell $ 9.19 per share, or 11.58%, to close at $ 70.15 per share on March 31, 2021.
If you want to serve as the lead plaintiff, you must transfer the court by June 8, 2021 at the latest. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
If you Amdocs securities purchased and / or wish to discuss your statutory rights and options Please visit https://www.bernlieb.com/cases/amdocslimited-dox-shareholder-class-action-litigation-stock-fraud-385/apply/ or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
Since 1993, Bernstein Liebhard LLP has collected more than $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to oversee their assets and litigate on their behalf. Because of its litigation success with hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s “Hot List” thirteen times and on The Legal 500 for ten consecutive years.
LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this Connecticut state complaint is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Matthew E. Guarnero
Bernstein Liebhard LLP