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SAN FRANCISCO, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Hagens Berman reminds investors in Infosys Limited (NYSE: INFY) of a recently filed securities fraud class action against the company. The firm urges INFY investors who have suffered significant losses to submit a loss form now to learn if they qualify to recover their investment losses.
Infosys Limited (INFY) Securities Class Action:
The Complaint alleges Defendants misstated Infosys’s true revenues by engaging in improper revenue recognition practices. The Complaint further alleges that the CEO evaded reviews and approvals of large deals to avoid accounting scrutiny, and that management pressured the Company’s finance team to conceal information from auditors and the Board of Directors.
On October 21, 2019, Reuters reported the Company received whistleblower complaints alleging “unethical practices” by certain executives to boost short-term revenue and profits, in violation of generally accepted accounting principles.
This news drove the price of INFY shares sharply lower during intraday trading on October 21, 2019.
“We are focused on investors’ losses and whether Infosys’s senior management cooked the books,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of INFY and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Infosys should consider their options to help in the investigation or take advantage of the SEC whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email INFY@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000