The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Amdocs Limited (NASDAQ: DOX) who purchased shares between December 13, 2016 and March 30, 2021. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Amdocs lawsuit alleges that (i) Amdocs overstated its profits, cash, and liquidity, while understating its debt; (ii) Amdocs concealed its large borrowing; (iii) while Amdocs’ reported results showed that its North American business was stable, that business was actually deteriorating annually, in part because the Company was losing AT&T as a customer; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until June 8, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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