Case: Infosys Limited
Lead Plaintiff Deadline: 12/9/2019
Contact: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

NEW YORK, NY – October 21, 2019 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating claims on behalf of investors who purchased the American Depositary Receipts (“ADRs”) of Infosys Limited (“Infosys” or the “Company”) (NYSE: INFY) on the New York Stock Exchange.

On October 21, 2019, Infosys announced that it received whistleblower complaints alleging “unethical practices” by Infosys’ executives reportedly to boost short-term revenue and profit.  

As reported in the media, the whistleblower allegations include the following:

  • Putting pressure on whistleblowers not to recognize reversals of $50million of upfront payment in the quarter ended September;
  • Revenue recognition in large contracts involving Verizon CommunicationsInc., Intel Corp., the Company’s joint venture in Japan as well asacquisition of Stater NV, a subsidiary of ABN AMRO Bank NV, were “forced”and not as per accounting standards;
  • Approvals for large deals have irregularities and the chief executive isbypassing reviews and approvals by instructing sales teams not to send mails for the same; and
  • CEO Salil Parekh and Chief Financial Officer Nilanjan Roy had asked thewhistleblowers to show “more profits in treasury operations” by raisingrisks and changing policies.


    Further, the whistleblowers reportedly have emails and voice recordings of the conversations on the matters discussed.

    On October 21, 2019, following news of the whistleblower allegations, Infosys’ ADRs fell by more than $1.51 per ADR, over 14%, in midday trading on the New York Stock Exchange.

    If you purchased Infosys’ ADRs and would like to discuss our investigation, please contact us by emailing This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by calling 800-290-1952.  

    This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

    Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about your rights or interests, please contact: 

    Frederic S. Fox
    KAPLAN FOX & KILSHEIMER LLP
    850 Third Avenue, 14th Floor
    New York, New York 10022
    (800) 290-1952
    (212) 687-1980
    Fax: (212) 687-7714
    E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

    Laurence D. King
    KAPLAN FOX & KILSHEIMER LLP
    350 Sansome Street, Suite 400 
    San Francisco, California  94104
    (415) 772-4700
    Fax:  (415) 772-4707
    E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it