Pomerantz LLP is investigating claims on behalf of investors of Amdocs Limited (“Amdocs” or the “Company”).
Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Amdocs and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 23, 2018, Spruce Point Management (“Spruce Point”) published a report on Amdocs, characterizing the Company as “a cryptic entity” that “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.” The Spruce Point report further asserted that “[w]ith insider ownership at an all-time low, evidence that management is milking [Amdocs’] cash through aggressive option comp schemes, and Board members tied to allegations of option back-dating and software cost capitalization, we believe that shareholders should keep a vigilant eye on management’s accounting practices and compensation decisions.”
ollowing publication of the Spruce Point report, Amdocs’ stock price fell sharply during intraday trading on January 23, 2019.