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Cognizant Says Conducting Corruption Probe; President Replaced


Ron Burgundy
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(Reuters) - IT services provider Cognizant Technology Solutions Corp said it was conducting an internal investigation into possible violations of U.S. anti-corrupt practices laws related to payments in India, sending its shares tumbling on Friday. Cognizant also said President Gordon Coburn had resigned and would be replaced by Rajeev Mehta, the head of IT services. Cognizant said the investigation was looking at whether certain payments related to Cognizant facilities in India violated the U.S. Foreign Corrupt Practices Act and other laws.

 

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