Company Name: Amdocs Limited
Securities: DOX (NASDAQ)
Class Period: December 13, 2016 to March 30, 2021
Motion Deadline: June 8, 2021
Court: United States District Courts for the Eastern District of Missouri and Central District of California
Amdocs Limited provides global software and services to the communications, cable and satellite, entertainment, and media industry service providers.
Before the market opened on March 31, 2021, Jehoshaphat Research published a short-seller report on Amdocs. In the report, Jehoshaphat alleges, among other things, that (a) Amdocs overstated its profits by up to 50%; (b) several Amdocs auditors resigned and were replaced with small firms or firms with past issues; and (c) the cash on Amdocs’ balance sheet is practically unavailable and Amdocs has hidden this problem.
On this news, Amdocs’ stock price fell $9.19 per share, or 11.6%, and closed at $70.15 per share on March 31, 2021.
The Amdocs securities class action litigation alleges, among other things, that the defendants violated the Securities Exchange Act of 1934 by making made materially false and misleading statements or failing to disclose material facts concerning the issues discussed in the Jehoshaphat Research report.
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Amdocs securities during the Class Period to ask the court to be appointed as lead plaintiff in the Amdocs securities class action litigation. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit, and can select a law firm of its choice to litigate the class action lawsuit. A court will generally appoint as lead plaintiff the movant with the greatest financial interest in the relief sought by the proposed class of investors and is also typical and adequate of the proposed class. An investor’s ability to share in any potential future recovery obtained in the litigation is not dependent upon serving as lead plaintiff.
If you wish to serve as lead plaintiff in the Amdocs securities class action litigation or have questions concerning your rights regarding the Amdocs securities class action litigation, please contact Joshua Ruthizer at (212) 451-9668, (877) 370-7703, or firstname.lastname@example.org.
The deadline for Amdocs investors to file a motion for appointment as lead plaintiff is June 8, 2021.
For further information about this case, contact:
Robert C. Finkel
Joshua W. Ruthizer