Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Infosys Limited (NYSE: INFY) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Infosys Limited (NYSE: INFY) concerning whether a series of statements by Infosys Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On October 21, 2019, Infosys Limited revealed that it received whistleblower complaints alleging "unethical practices" by Infosys’ executives to boost short-term revenue and profit. An unnamed group sent letters to Infosys’ Board and the SEC alleging that the Company had taken “unethical” steps to inappropriately boost short-term revenue and profit. In addition, allegedly the Company’s Chief Executive Officer, Salil Parekh, was bypassing standard reviews of large contracts in order to skirt accounting scrutiny.
Following this news, NYSE: INFY fell $1.28 per share, or 12.11%, to close at $9.29 per share on October 21, 2019.
Based in Bengaluru, India, and founded in 1981 Infosys Limited provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally.
If you purchased shares of Infosys Limited (NYSE: INFY) on or before October 21, 2019, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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