Amdocs Limited (NASDAQ: DOX)
Hagens Berman Sobol Shapiro LLP alerts investors in Amdocs Limited (NASDAQ: DOX) to the firm's investigation into possible disclosure violations.
If you purchased or otherwise acquired securities of DOX between January 1, 2016 and January 22, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing DOX@hbsslaw.com.
On January 23, 2019, a research activist firm published a lengthy bearish report on Amdocs. Among other things, the firm concluded “[w]e believe that DOX 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.”
This news drove the price of Amdocs shares down as much as $7.87, or about 13%, during intraday trading on January 23, 2019.
“We’re focused on investors’ losses, whether Amdocs’ historical financial statements require correction, and whether the activist firm’s conclusions are correct,” said Hagens Berman partner Reed Kathrein.
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