 "Cognizant")
Nasdaq-listed IT services company Cognizant has said that the investigation and legal expenses towards the alleged violation of the US Foreign Corrupt Practice Act (FCPA) towards improper payments made in India has cost the company total $63 million so far in calendar 2016 and 2017.
In September 2016, the Cognizant had voluntarily disclosed before the US Department of Justice and the Securities and Exchange Commission (SEC) that the company was investigating payments related to company-owned facilities in India that were possibly made improperly and in violation of FCPA and other applicable laws. The disclosure was also followed by the
In September 2016, the Cognizant had voluntarily disclosed before the US Department of Justice and the Securities and Exchange Commission (SEC) that the company was investigating payments related to company-owned facilities in India that were possibly made improperly and in violation of FCPA and other applicable laws. The disclosure was also followed by the
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