November 4, 2019 / 5:53 AM / 3 months ago

India's Infosys says no prima facie evidence on whistleblower complaints

BENGALURU, Nov 4 (Reuters) - Indian IT services major Infosys Ltd said on Monday it found no evidence to prove the allegations in a whistleblower letter from last month, sending shares up 5% in morning trade.

In a letter to the National Stock Exchange dated Nov. 2, the company said the anonymous complaints were still under investigation and it was not in a position to determine “concreteness, credibility and materiality of complaints.”

Infosys said last month that the U.S. Securities and Exchange Commission (SEC) had launched a probe into whistleblower claims that the Indian software services firm used ‘unethical practices’ to boost revenue and profit. (Reporting by Derek Francis in Bengaluru; Editing by Rashmi Aich)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below