LOS ANGELES, April 08, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Amdocs Limited (“Amdocs” or the “Company”) (NASDAQ: DOX) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
It is alleged in this complaint that Amdocs issued misleading and/or false statements and/or failed to disclose information pertinent to investors. Amdocs is the subject of a report published on March 31, 2021 by Jehoshaphat Research. According to the report, Amdocs overstated its profitability. Jehoshaphat alleges that Amdoc replaced reputable auditors with “scandal-plagued or tiny shops.” It is alleged that Amdoc “window-dressed” its balance sheet in order to hide its borrowing. The report quotes a former Amdoc executive as saying, “The US business was declining at a rate of [around] 7% annually…but then we would see the company [publish results that] say North America is stable.”
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
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