Cognizant To Appoint 3 Directors, Return $3.4 Billion To Shareholders

IT services provider Cognizant Technology Solutions Corp, bowing to pressure from activist investor Elliott Management, agreed to appoint three directors and return $3.4 billion to shareholders. Elliott disclosed a more than 4 per cent stake in Cognizant in November and had urged the IT services provider to take steps to boost shareholder value. Cognizant said it's board has approved a plan to return $3.4 billion to shareholders ov...