US Markets

U.S. SEC investigates India's Infosys on whistleblower complaints

Credit: REUTERS/Vivek Prakash

Infosys Ltd said on Thursday that the U.S. 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.

BENGALURU, Oct 24 (Reuters) - Infosys Ltd INFY.NS said on Thursday that the U.S. 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 U.S. federal court based on the complaints, the company said, adding that it intends to defend itself "vigorously".

(Reporting by Chris Thomas in Bengaluru)

((chris.thomas@thomsonreuters.com; +91-80-6749-8695;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More