The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Infosys Limited (NYSE: INFY) securities between July 7, 2018 and October 20, 2019.
According to the Infosys lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company improperly recognized revenues to inflate short-term profits; (2) Chief Executive Officer Salil Parekh bypassed reviews and approvals for large deals to avoid accounting scrutiny; (3) management pressured the Company’s finance team to hide information from auditors and the Company’s Board of Directors; and (4) as a result of the aforementioned misconduct, Defendants’ statements about Infosys’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Infosys you have until December 23, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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