US law firm readies class suit against Infosys to recover losses

In mounting troubles for Infosys, US-based Rosen Law Firm has said it is preparing a class action lawsuit to recover losses suffered by investors in the wake of allegations of “unethical practices” at the IT major.

On Monday, NYSE-listed Infosys had said it had received whistleblower complaints alleging “unethical practices” by its top executives to boost short-term revenue and profit. This had led to a sharp fall in Infosys shares during intra-day trading in the US.

In a statement, Rosen Law Firm said it is “investigating potential securities claims on behalf of shareholders of Infosys Ltd resulting from allegations that Infosys may have issued materially misleading business information to the investing public”.

“Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Infosys investors,” the statement added.