Ademi LLP is investigating possible securities fraud claims against Amdocs, Ltd. (NASDAQ: DOX). The investigation results from inaccurate statements Amdocs may have made regarding its financial results, business operations and prospects.
The investigation focuses on whether Amdocs properly disclosed its financial results. A March 31 report from short seller Jehoshaphat Research says that Amdocs is committing a "massive financial deception" by reporting “widely overstated profit margins.” According to Jehoshaphat Research, former employees and direct competitors of Amdocs, including a former American Amdocs executive, stated that the Amdocs' "US business was declining at a rate of [around] 7% annually . . . but then we would see the company [publish results that] say North America is stable."