Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 8, 2021 to file lead plaintiff applications in a securities class action lawsuit against Amdocs Limited (NasdaqGS: DOX), if they purchased the Company’s shares between December 13, 2016 and March 30, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased shares of Amdocs and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-dox/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 8, 2021.
About the Lawsuit
Amdocs and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 31, 2021, pre-market, Jehoshaphat Research reported a series of allegations against the Company including that it overstated its profits based on steady parent profits despite declining subsidiary profits; a pattern of resignations by reputable auditors replaced by “scandal-plagued or tiny shops”; that the Company “window-dressed” its balance sheets to keep its large borrowing a secret, specifically by timing its debt payment and reborrowing to appear debt-free; that the Company was losing AT&T as a customer, and other assertions.
On this news, shares of Amdocs plummeted $9.19 per share, or 11.58%, to close at $70.15 per share on March 31, 2021.
The case is Marn v. Amdocs Limited, et al., No. 21-cv-03078.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210411005042/en/
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
