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LOS ANGELES–(BUSINESS WIRE)–$INFY #INFY—The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Infosys Limited (“Infosys” or “the Company”) (NYSE: INFY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between July 7, 2018 and October 20, 2019, inclusive (the ”Class Period”), are encouraged to contact the firm before December 23, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Infosys used improper recognition of revenue to boost short-term profits. CEO Salil Parekh skipped standard reviews of large deals to avoid accounting scrutiny. In fact, the Company’s finance team was pressured to hide details of these deals and other accounting matters from auditors and the Company’s Board of Directors. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Infosys, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.