NEW YORK, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Amdocs Limited (“Amdocs” or the “Company”) (NASDAQ: DOX). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Amdocs and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 23, 2018, Spruce Point Management (“Spruce Point”) published a report on Amdocs, characterizing the Company as “a cryptic entity” that “has engineered superficial top and bottom-line growth alongside unusually stable margins through opaque M&A, aggressive percentage-of-completion accounting, software cost capitalization, and repeated one-off net tax benefits.” The Spruce Point report further asserted that “[w]ith insider ownership at an all-time low, evidence that management is milking [Amdocs’] cash through aggressive option comp schemes, and Board members tied to allegations of option back-dating and software cost capitalization, we believe that shareholders should keep a vigilant eye on management’s accounting practices and compensation decisions.” Following publication of the Spruce Point report, Amdocs’ stock price fell sharply during intraday trading on January 23, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .
CONTACT: Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com
