Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Amdocs Limited (NASDAQ: DOX) on behalf of Amdocs stockholders. Our investigation concerns whether Amdocs has violated the federal securities laws and/or engaged in other unlawful business practices.
Click here to participate in the action.
On March 31, 2021, Jehoshaphat Research published a short-seller report addressing Amdocs, which alleged, among other things, that: (1) Amdocs overstated its profits, evidenced by steady parent profits despite declining subsidiary profits; (2) there was a concerning pattern of reputable auditors resigning, only to be replaced by “scandal-plagued or tiny shops”; (3) Amdocs “window-dressed” its balance sheets to keep its large borrowing a secret; and (4) all of the foregoing was corroborated by former employees and direct competitors of the Company, including a former American Amdocs executive, who stated that the Company’s “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 sharply on March 31, 2021, to close at $70.15 per share.
If you purchased or otherwise acquired Amdocs shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.