Cognizant agrees to $95M settlement in securities class action; insurers to cover most

COGNIZANT TECHNOLOGY SOLUTIONS CORP

Settlement of $95M to resolve consolidated securities class action for purchases between Feb 27, 2015 and Sep 29, 2016.
Subject to court approval; company and former officers deny any valid claims.
Substantial majority of payment covered by D&O insurers; no amounts remaining under policies for this matter.
Lawsuit alleged false statements related to FCPA violations, business prospects, and internal controls.

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