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Infosys Limited

Company NameInfosys Limited
Stock SymbolINFY
Class PeriodJuly 07, 2018 to October 20, 2019
Lead Plaintiff Motion DeadlineDecember 23, 2019

On October 21, 2019, Infosys disclosed that it had received whistleblower complaints alleging “unethical practices” by the Company’s management to inappropriately boost short-term revenue and profit. Moreover, the complaints alleged that the Company’s Chief Executive Officer (“CEO”), Salil Parekh, bypassed reviews and approvals of large contracts to avoid accounting scrutiny.

On this news, the Company’s share price fell $1.28, or over 12%, to close at $9.29 per share on October 21, 2019, thereby injuring investors.

 

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