Gordon J. Coburn, Steven E. Schwartz

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26351 / July 15, 2025

Securities and Exchange Commission v. Coburn, et al., Case No. 2:19-cv-05820-MCA-MAH (D.N.J. filed Feb. 15, 2019).

SEC Announces Dismissal of Civil Enforcement Action Against Former Cognizant Executives Gordon J. Coburn and Steven E. Schwartz

The Securities and Exchange Commission today filed a joint stipulation with Defendants Gordon J. Coburn and Steven E. Schwartz to dismiss, with prejudice, the Commission’s ongoing civil enforcement action against them.

The Commission’s decision to exercise its discretion and dismiss the pending enforcement action rests on its judgment that the dismissal is appropriate as a policy matter, not on any assessment of the merits of the claims alleged in the action. Furthermore, as stated in the joint stipulation, the Commission’s decision to seek dismissal of this action “does not necessarily reflect the Commission’s position on any other case.”