Cognizant shareholder derivative settlement gets preliminary approval

A U.S. District Court in New Jersey granted preliminary approval on June 30, 2026, to a proposed settlement in a stockholder derivative lawsuit against Cognizant Technology Solutions Corporation (NASDAQ: CTSH).

The case, captioned Viswanatha Palempalli v. Michael Pastalos-Fox, et al., No. 2:21-cv-12025-EP-SDA, had been pending since 2021. The court's Preliminary Approval Order requires Cognizant to notify its stockholders of the proposed settlement through a Long-Form Notice of Pendency and Proposed Settlement of Stockholder Derivative Action, along with a Stipulation and Agreement of Settlement.

Cognizant disclosed the settlement details in a Form 8-K filing with the Securities and Exchange Commission, as required by the Preliminary Approval Order and the Stipulation of Settlement. The documents are also available through the investor relations section of the company's website.

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