Infosys is in more trouble as a class action lawsuits gather steam in the US
- Two US law firms are inviting
Infosysinvestors and stakeholders to discuss their legal rights.
- The Rosen Law Firms is planning to file a class action suit against the company.
Faruqi and FaruqiLLP is only inviting plaintiffs that have suffered a loss of $150,000 or more.
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
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.
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