Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Conduent, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Conduent, Inc. (“Conduent” or the “Company”) (NYSE:CNDT) of the May 7, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Conduent stock or options between February 21, 2018 and November 6, 2018 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Conduent common shares between February 21, 2018 and November 6, 2018 (the “Class Period”). The case, Employees Retirement System of the Puerto Rico Electric Power Authority v. Conduent, Inc. et al., No. 19-cv-08237 was filed on March 8, 2019, and has been assigned to Judge Susan D. Wigenton.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading representations to investors regarding the Company’s ‘transformation phase’ and whether it had cured inefficiencies caused by operating on multiple information resource platforms.
On November 7, 2018, Conduent issued a press release announcing its third quarter 2018 results in which earnings per share missed Wall Street estimates by 1.4% and revenues missed by 2.8%. The Company also lowered fiscal 2018 revenue guidance 2.5%, lowered adjusted EBITDA [earnings before interest taxes depreciation and amortization] guidance 4.4% and lowered adjusted free cash flow guidance by 12.8%.
On this news, the Company's stock price fell from $19.22 per share on November 6, 2018 to $13.62 per share on November 7, 2019—a $5.60 or 29.14% drop.
Conduent, Inc. (CDNT)
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Filed on 03/12/2019
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