An investigation on behalf of investors in shares of Amdocs Limited (NASDAQ: DOX) was announced over potential breaches of fiduciary duties by certain officers and directors at Amdocs Limited.
Investors who purchased shares of Amdocs Limited (NASDAQ: DOX) have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Amdocs directors breached their fiduciary duties and caused damage to the company and its shareholders.
Chesterfield, MO based Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. Amdocs Limited reported that its Total Revenue rose from over $3.86 billion for the 12 months period that ended on September 30, 2017 to over $3.97 billion for the 12 months period that ended on September 30, 2018.
On January 23, 2019, Spruce Point Capital Management issued a report alleging how Amdocs has “engineered superficial top and bottom-line growth” through “opaque M&A, aggressive percentage-of-completion accounting, software cost capitalization, and repeated one-off net tax benefits.”
Shares of Amdocs Limited (NASDAQ: DOX) declined from $70.04 per share in June 2018 to as low as $52.60 per share on January 23, 2019.
Those who purchased shares of Amdocs Limited (NASDAQ: DOX) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.