In August Cognizant filed a motion requesting that Schwartz give them a detailed accounting of the attorney’s fees and costs he incurred in the Chancery Court case. Cognizant claims that Schwartz was not entitled to advancement or indemnification in that lawsuit.
In response, Schwartz’s attorney, Adam Balick of Balick & Balick LLC, argued “We don’t do indemnification in stages. We wait until the end.” Balick said Cognizant’s motion was premature. He further argued that Schwartz’s pending criminal case will most likely “resolve the vast majority of the issues surrounding indemnification,” and according to Balick, “We’re almost there.”
Schwartz along with former Cognizant president, Gordon Coburn, are facing criminal charges stemming from 2019 allegations that both men violated the Foreign Corrupt Practices Act by allegedly bribing an official in India. In February 2019, Federal prosecutors filed civil and criminal charges against Coburn and Schwartz, which set off a slew of additional subsequent lawsuits in a number of states.
