Multiple Securities Fraud Investigations (2023 & 2024) (critical) EPAM is subject to multiple ongoing shareholder investigations and class action filings (by firms including Pomerantz, Levi & Korsinsky, Holzer & Holzer, and Bragar Eagel & Squire) alleging securities fraud and unlawful business practices. These investigations stem from two major incidents where EPAM abruptly lowered its financial guidance: 1. June 5, 2023: EPAM lowered Q2 and full-year guidance one month after issuance, causing the stock price to fall $56.40 per share (21.72%). 2. May 8, 2024: EPAM updated guidance below expectations, blaming 'demand not improving,' causing the stock price to fall $67.27 per share (approximately 27%).. Geopolitical Risk and Internal Dissension over Russia/Ukraine Stance (high) During the 2022 Russian invasion of Ukraine, CEO Arkadiy Dobkin initially refrained from publicly condemning Russia, sparking significant internal dissension between the firm's 14,000 Ukrainian employees and 18,000 Belarusian and Russian staff. The company subsequently decided to stop operating in Russia in April 2022 but continued working in Belarus, maintaining exposure to political risk in the region.. Public Refutation of Hacker Misinformation Regarding Data Breach (medium) EPAM was forced to issue a public statement on June 18, 2024, to counter 'hacker misinformation' regarding a data breach. While the company stated that its internal investigation found no evidence that EPAM systems or client data were compromised, the necessity of issuing a public rebuttal indicates a recent, high-profile cybersecurity event or accusation that impacted reputation.. Widespread Negative Employee Reviews Regarding Layoffs and Bench Periods (medium) Recent employee feedback and community discussions (Dec 2024) highlight significant negative sentiment regarding operational instability, specifically citing issues with 'client interviews, bench periods and layoffs.' Separately, a specific complaint details 'broken promises' and 'unacceptable treatment' from EPAM Poland, suggesting potential issues with employee retention and management practices in key operational hubs.