US law firm’s complaint not uncommon: Infosys

“The Company notes that it is not uncommon for plaintiffs’ lawyers to issue press releases or other media communications asking potential plaintiffs to contact them in order to apply for lead plaintiff status in an existing lawsuit,” said Infosys in a statement to the BSE.

Infosys said it is aware of several circulating media stories referring to additional securities class action lawsuit against the company.

However, the company said it not aware of any additional complaints than the initial complaint disclosed on October 24, 2019. “The company (Infosys) is aware of several media stories referencing an additional securities class action lawsuit against Infosys. The company is not aware of any additional complaints, other than the initial complaint, which was disclosed on October 24, 2019,” Infosys said.

On October 24, Infosys replied to a clarification sought by the BSE on October 23, for not making any disclosure adhering to Rule 30 of the Securities and Exchange Board of India’s (SEBI) Listing Obligations and Disclosure Requirements (LODR), about receiving whistleblower complaints

On Oct 22, Infosys submitted a statement to the BSE, attributing to chairman Nandan Nilekani, mentioning that it received whistleblower complaints which was not in conformity with the LODR.