Cognizant reaches $95 million settlement with US shareholders over India bribery allegations

  • Cognizant Technology Solutions Corp has reached a $95 million settlement to resolve a lawsuit accusing the information technology services company of defrauding shareholders by concealing bribes to officials in India.
  • Cognizant said it expected insurers to cover a substantial majority of the settlement payment.
  • In February 2019, Cognizant agreed to pay $25 million to settle a related US Securities and Exchange Commission civil probe.
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