Industry

U.S. SEC investigates Infosys on whistleblower complaints

The logo of Infosys is pictured inside the company's headquarters in Bengaluru, India, April 13, 2017.

The logo of Infosys is pictured inside the company's headquarters in Bengaluru, India, April 13, 2017.   | Photo Credit: Reuters

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A securities class action lawsuit has also been filed against the company in a U.S. federal court based on the complaints, Infosys said, adding that it intends to defend itself “vigorously”.

Infosys Ltd said on Thursday that the U.S. Securities and Exchange Commission had launched an investigation into whistleblower claims that Infosys, the software services firm, used 'unethical practices' to boost revenue and profit.

The company said market regulator, the Securities and Exchange Board of India, had also requested additional information from the company concerning the complaints.

A securities class action lawsuit has also been filed against the company in a U.S. federal court based on the complaints, the company said, adding that it intends to defend itself “vigorously”.

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Printable version | Dec 15, 2019 11:21:59 AM | https://www.thehindu.com/business/Industry/us-sec-investigates-indias-infosys-on-whistleblower-complaints/article29783265.ece

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