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Business Companies 24 Oct 2019 SEC investigates India's Infosys on whistleblower complaints

Business, Companies

SEC investigates India's Infosys on whistleblower complaints

REUTERS

Published : Oct 24, 2019, 9:37 am IST

Updated : Oct 24, 2019, 9:47 am IST

Securities and Exchange Board of India, had also requested additional information from the company concerning the complaints.

Infosys Ltd said on Thursday that the US Securities and Exchange Commission had launched an investigation into whistleblower claims that the Indian software services firm used ‘unethical practices’ to boost revenue and profit.

The company said India’s market regulator, the Securities and Exchange Board of India, had also requested additional information from the company concerning the complaints.

A securities class action lawsuit has also been filed against the company in a US federal court based on the complaints, the company said, adding that it intends to defend itself “vigorously”.

Tags: infosys, sec, investigation, us federal court

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