As many as four US law firms have initiated investigations against Infosys to probe whether it had violated any US SEC regulations.
As many as four US law firms have initiated investigations against Infosys to probe whether it had violated any US SEC regulations. This comes a day after the IT major announced the resignation of CEO Vishal Sikka. Goldberg Law PC, a national shareholder rights litigation firm in the US, announced that it is investigating claims on behalf of investors of Infosys. Other firms, such as Bronstein, Gewirtz & Grossman, Pomerantz Law Firm, and Rosen Law Firm, are looking at whether the company directors were engaged in any securities fraud or other unlawful business practices.
Goldberg Law PC said its investigation will focus on whether Infosys and its certain officers and/or directors violated the federal securities laws. Similarly, Rosen Law Firm is also preparing a class action lawsuit to recover losses suffered by Infosys investors. Bronstein, Gewirtz & Grossman said it was investigating potential claims on behalf of purchasers of Infosys. The stock price of Infosys dropped close to 10% on Friday following the resignation of CEO Vishal Sikka.