Cognizant Technology Solutions Corporation has issued a formal notice regarding the pendency and proposed settlement of a stockholder derivative action filed in federal court. The announcement details an agreement reached by the parties to resolve claims brought on behalf of the company.

The settlement terms are outlined in a Stipulation and Agreement of Settlement dated November 25, 2025. Under the agreement, the defendants will cause their insurers to pay Cognizant a total of 5.5 million dollars to the settlement fund, after deducting approved fees and expenses. The company acknowledges that the efforts of the plaintiff and counsel contributed to securing this payment from the insurers.

Plaintiff's counsel plans to seek court approval for attorneys' fees and expenses up to 1.83 million dollars, representing about one third of the settlement fund. They will also request a service award of up to 15,000 dollars for the plaintiff, to be paid from the approved fee amount.

A settlement hearing is scheduled for September 14, 2026, at 11:00 a.m. before the Honorable Stacey D. Adams in the United States District Court for the District of New Jersey. The hearing will determine whether to approve the proposed resolution.

Current Cognizant stockholders who owned shares as of November 25, 2025, may attend the hearing. Those wishing to object must submit a written notice by August 31, 2026, including their name and contact details, proof of stock ownership, acquisition dates, specific objections, intent to appear, and any supporting documents or witness information.

Objections must be filed with the court clerk and served on counsel for all parties by the deadline. Only timely objectors will be permitted to speak at the hearing unless otherwise ordered. Failure to object properly waives the right to challenge the settlement.

Additional information is available from plaintiff's counsel at Robbins LLP in San Diego. Stockholders are advised not to contact the court or defendants directly about this notice.

Cognizant continues to focus on delivering AI and technology services that help enterprises realize value from their investments. The company maintains its commitment to strong governance practices amid this legal resolution.