Common use of Estimate of Average Amount of Recovery Per Share Clause in Contracts

Estimate of Average Amount of Recovery Per Share. Based on Lead Plaintiffs’ damages expert’s estimate of the number of shares of Cognizant common stock purchased or otherwise acquired during the Class Period that may have been affected by the alleged conduct at issue in the Action, and assuming that all Settlement Class Members elect to participate in the Settlement, the estimated average recovery per eligible share of Cognizant common stock (before the deduction of any Court-approved fees, expenses, and costs as described herein) is approximately $0.35 per share. Settlement Class Members should note, however, that the foregoing average recovery per eligible share is only an estimate. Settlement Class Members may recover more or less than this estimated amount depending on, among other factors: (i) when and the price at which they purchased/acquired shares of Cognizant common stock; (ii) whether they sold their shares of Cognizant common stock and, if so, when; and (iii) the total number and value of valid Claims submitted to participate in the Settlement. Distributions to Settlement Class Members will be made based on the Plan of Allocation attached hereto as Appendix A or such other plan of allocation as may be ordered by the Court.

Estimate of Average Amount of Recovery Per Share. Based on Lead Plaintiffs’ Plaintiff’s damages expert’s estimate of the number of shares of Cognizant Cerence common stock purchased or otherwise acquired during the Class Period that may have been affected by the alleged conduct at issue in the ActionLitigation, and assuming that all Settlement Class Members elect to participate in the Settlement, the estimated average recovery per eligible share of Cognizant Cerence common stock (before the deduction of any Court-approved fees, expenses, and costs as described herein) is approximately $0.35 1.12 per share. Settlement Class Members should note, however, that the foregoing average recovery per eligible share is only an estimate. Settlement Class Members may recover more or less than this estimated amount depending on, among other factors: (i) when and the price at which they purchased/acquired shares of Cognizant Cerence common stock; (ii) whether they sold their shares of Cognizant Cerence common stock and, if so, when; and (iii) the total number and value of valid Claims submitted to participate in the Settlement. Distributions to Settlement Class Members will be made based on the Plan of Allocation attached hereto as Appendix A or such other plan of allocation as may be ordered by the Court.