Cognizant Tumbles as President Leaves Amid FCPA Probe

Oct. 3, 2016, 4:00 AM

Cognizant Technology Solutions Corp. stock tumbled the most in more than four years after a key executive left abruptly amid revelations of an internal investigation into whether some payments in India violated the U.S. Foreign Corrupt Practices Act.

Gordon Coburn, who had been at Cognizant for two decades and most recently served as its president, resigned during the week of Sept. 26, the Teaneck, N.J.-based company said in a filing Sept. 30. The probe is focused on a small number of company-owned facilities, the company said without elaborating.

“The shock in all of this, frankly, is the resignation of one ...

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