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Infosys shares fall 2 % after Sebi, U.S. SEC initiate probe into whistleblower allegations

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

On Monday, Infosys informed stock exchanges about anonymous whistleblower complaints alleging certain unethical practices.

Infosys shares on Thursday declined 2 per cent after Securities and Exchange Board of India (SEBI) and US Securities and Exchange Commission initiated probe following the whistleblower complaints.

The scrip declined 1.95 % to ₹ 638 on the BSE.

At the NSE, it fell 1.93 % to ₹ 638.

On Monday, Infosys informed stock exchanges about anonymous whistleblower complaints alleging certain unethical practices.

“The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC’s investigation,” Infosys said in a statement.

Also, Sebi has requested additional information from the company concerning the anonymous complaints, and Infosys will provide the information as per its request, it added.

Following reports of whistleblower allegations on Monday, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices.

The Bengaluru-based company said these had been placed before the audit committee.

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Printable version | May 30, 2020 7:54:12 AM | https://www.thehindu.com/business/markets/infosys-shares-fall-2-pc-after-sebi-us-sec-initiate-probe-into-whistleblower-allegations/article29783899.ece

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