Infosys Limited

Case Details

Class Period:
July 7, 2018 – October 20, 2019
Date Filed:
October 23, 2019
Case Number:
1:19cv05959
Jurisdiction:
New York Eastern District Court

Case Summary

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company improperly recognized revenues to inflate short-term profits; (2) the Company's CEO, Salil Parekh, bypassed reviews and approvals for large deals to avoid accounting scrutiny; (3) management pressured the Company's finance team to hide information from auditors and the Company's Board of Directors; and (4) 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

Action Details

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View Complaint (pdf)

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