INSUBCONTINENT EXCLUSIVE:
This comes months after a whistleblower complained against Infosys on the similar lines.HighlightsThe Schall Law Firm has announced this
filing against Infosys Schall Law Firm represents investors around the world Schall specializes in securities class action
lawsuitsLos Angeles: The Schall Law Firm, a shareholder rights litigation firm based in Los Angeles has announced the filing of a class
action lawsuit against Infosys Limited.According to the complaint, Infosys made false and misleading statements to the market and used
improper recognition of revenue to boost short-term profits.This comes months after a whistleblower complained against Infosys and its CEO
Salil Parekh on the similar lines
However, the company later after an investigation said it could not find the evidence.The complaint in the US said 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
When the market learned the truth about Infosys, investors suffered damages", a statement by the law firm said.Schall said it encourages
investors with losses in excess of $100,000 to contact the firm.The class action lawsuit against Infosys Limited listed on NYSE for
violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated there under by the United States Securities
and Exchange Commission.Investors who purchased the company's securities between July 7, 2018 and October 20, 2019, inclusive (the "Class
Period"), have been asked to contact the firm before December 23, 2019, it said.The Schall Law Firm represents investors around the world
and specializes in securities class action lawsuits and shareholder rights litigation.
