Infosys is in more trouble as a class action lawsuits gather steam in the US

Infosys may have to fight against class action lawsuits in the USBCCL

  • Two US law firms are inviting Infosys investors and stakeholders to discuss their legal rights.
  • The Rosen Law Firms is planning to file a class action suit against the company.
  • Faruqi and Faruqi LLP is only inviting plaintiffs that have suffered a loss of $150,000 or more.
After allegations of unethical practices, Infosys may have more trouble on the horizon. Rosen Law Firm, which fights for global investor rights, announced that it is investigating potential securities claims on behalf of the investors.

After allegations of Infosys’ ‘unethical’ practices came to light, the company’s share price fell sharply. The US law firm is reportedly working on filing a class action lawsuit against the Indian tech giant to recover the losses that occurred.

And, the Rosen Law Firm is not alone. Faruqi and Faruqi LLP, another US based law firm, is also investigating potential claims against Infosys. It has invited investors who suffered a loss greater than $150,000 to come forward and discuss their legal rights at no cost.

According to the complaints filed by the whistleblower with the Infosys’ Board and the US Securities and Exchange Commission, Infosys executives broke accounting laws to boost short-term revenue and profits.

Salil Parekh, the CEO of the company, overlooked standard review of deals and contracts in order to show larger margins and skirt scrutiny.

See also:

Infosys lost $4 billion in share value due to $50 million whistleblower complaint-- showing that governance is bigger than money

The Infosys clean-up under Salil Parekh seems to have come a full circle within 2 years

Someone made a big bet that Infosys share will fall even before the whistleblower complaint against CEO Salil Parekh became public