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New York, New York--(Newsfile Corp. - May 22, 2021) - Pomerantz LLP announces that a class action lawsuit has been filed against Amdocs Limited ("Amdocs" or the "Company") (NASDAQ: DOX), and certain of its officers. The class action, filed in the United States District Court for the Central District of California, and docketed under 21-cv-03078, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Amdocs ordinary shares between December 13, 2016 and March 30, 2021, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
If you are a shareholder who purchased Amdocs ordinary shares during the Class Period, you have until June 8, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Click here for information about joining the class action]
Amdocs, through its global subsidiaries, provides software and services to communications, cable and satellite, entertainment, and media industry service providers worldwide. Historically, the Company's largest percentage of revenues come from its North American business, mostly the U.S., particularly from large customers including, among others, AT&T Inc. ("AT&T").
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose 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.