Cognizant reaches $5.5 million settlement in stockholder derivative lawsuit

Cognizant reached a proposed settlement in a stockholder derivative lawsuit in U.S. federal court in New Jersey.

• Insurers for the defendants would pay $5.5 million to Cognizant, less court-approved attorneys’ fees, expenses, and a service award.
• Plaintiff’s counsel plans to seek up to $1.83 million in fees and expenses, about 33% of the settlement fund.
• The court set a settlement hearing for Sept. 14, 2026, with objections due by Aug. 31, 2026.