On Thursday, Infosys Ltd said the US Securities and Exchange Commission (SEC) launched an investigation against information whistleblowers, claiming that the Indian software services firm used “unethical practices için to increase revenue and profits.
The company said that India's market regulator, the Indian Securities and Exchange Board, would also like to provide information about complaints.
Infosys, which generates revenue after India's second-largest IT services company, Tata Consultancy Services Ltd, said on Tuesday that Chief Executive Salil Parekh's negative impact on Infosys' share price. He feared the effect of large agreements and reviews for the omissions approved. .
He also claimed that Nilanjan Roy, General Manager of Financial Affairs, prevented employees from emphasizing the problems of major agreements in their presentations.
When Parekh and Roy contacted Infosys, he declined to comment.
On Thursday, Infosys also said a securities class case was filed in the US federal court based on complaints and that it intends to defend itself “violently..
Infosys shares, which have lost 15% of their value since the firm announced the claims, remained largely unchanged in early trading on Thursday.
Oct 24, 2019 10:29 AM IST