We are investigating Infosys Limited (INFY) (“Infosys” or the “Company”) for potential violations of the federal securities laws.
On October 21, 2019, Infosys disclosed that it had received whistleblower reports alleging “unethical practices” by the Company’s executive management. Specifically, an unnamed group sent letters to Infosys’s Board of Directors and to the U.S. Securities and Exchange Commission, alleging that Infosys had taken “unethical” steps to inappropriately boost short-term revenue and profit. These letters also alleged that Infosys’s Chief Executive Officer, Salil Parekh, was bypassing standard reviews of large contracts in order to skirt accounting scrutiny. On this news, Infosys’s stock price fell $1.28 per share, or 12.11%, to close at $9.29 per share on October 21, 2019.