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Infosys whistleblower case: US market regulator begins probe into group's allegations

Our Bureau Bengaluru | Updated on October 28, 2019 Published on October 24, 2019

File photo   -  Reuters

The United States (US) market regulator, SEC (Securities and Exchange Commission) initiated an investigation into the whistleblower group's allegations against the Infosys CEO for alleged "unethical practices."

Read: Whistleblower group accuses Infosys CEO of 'unethical practices' to boost numbers

In a statement to the stock exchanges, Infosys said it has learnt that the SEC has initiated an investigation into the matter.

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The company has also been in touch with the SEC regarding the anonymous whistleblower complaints and has learnt that the SEC has initiated an investigation into this matter.

 

The Company will cooperate with the SEC’s investigation. Also, Securities and Exchange Board of India (“SEBI”) has requested additional information from the company concerning the anonymous complaints. The company will provide the information as per SEBI’s request. The company is also aware of a securities class action lawsuit that has been filed against the Company in federal court in the United States based on the generalized allegations in the anonymous complaints. The Company intends to defend itself vigorously in such a lawsuit, the statement said.

Published on October 24, 2019
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