Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Amdocs Limited (DOX) on Behalf of Investors
Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Amdocs (News - Alert) Limited ("Amdocs" or the "Company") (NASDAQ: DOX) investors concerning the Company's possible violations of the federal securities laws.
If you suffered a loss on your Amdocs investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/amdocs-limited/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at email@example.com to learn more about your rights.
On March 31, 2021, before markets opened, Jehoshaphat Research published a report alleging that Amdocs overstated its profits, evidenced by steady parent profits despite declining subsidiary profits. The report also noted there was a concerning pattern of reputable auditors resigning, only to be replaced by "scandal-plagued or tiny shops." Furthermore, the report alleged that the Compay "window-dressed" its balance sheets to keep its large borrowing a secret, and former employees and direct competitors corroborated the findings, including a former American Amdocs executive, who stated, "The US business was declining at a rate of [around] 7% annually . . . but then we would see the company [publish results that] say North America is stable."
On this news, Amdocs' stock price fell $4.35, or 5.5%, from closing at $79.34 on March 30, 2021 to open at $74.99 on March 31, 2021.
Whistleblower Notice: Persons with non-public information regarding Amdocs should consider their options to aid the investigation or take advantage of the SEC (News - Alert) Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email firstname.lastname@example.org.
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