Lawsuit filed for Investors in shares of Infosys Limited (NYSE: INFY)

An investor, who purchased shares of Infosys Limited (NYSE: INFY), filed a lawsuit over alleged violations of Federal Securities Laws by Infosys Limited in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Infosys Limited (NYSE: INFY) have certain options and for certain investors are short and strict deadlines running. Deadline: December 23, 2019. NYSE: INFY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On October 21, 2019, Infosys Limited disclosed that it had received whistleblower reports alleging “unethical practices” by the company’s executive management. An unnamed group sent letters to Infosys’ Board and the U.S. Securities and Exchange Commission alleging that the company had taken “unethical” steps to inappropriately boost short-term revenue and profit. These letters also alleged that the Company’s Chief Executive Officer, Salil Parekh, was bypassing standard reviews of large contracts in order to skirt accounting scrutiny.

Shares of Infosys Limited (NYSE: INFY) declined to as low as $8.90 per share on October 22, 2019.

The plaintiff claims that between July 7, 2018 and October 20, 2019, the defendants made false and/or misleading statements and/or failed to disclose that the Company improperly recognized revenues to inflate short-term profit, that the Company’s CEO, Salil Parekh, bypassed reviews and approvals for large deals to avoid accounting scrutiny, that management pressured the Company’s finance team to hide information from auditors and the Company’s Board of Directors, and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Those who purchased shares of Infosys Limited (NYSE: INFY) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.