NEW YORK, Aug. 19, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Infosys Limited ("Infosys" or the "Company") (NYSE: INFY). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Infosys and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 18, 2017, Infosys announced the resignation of Vishal Sikka as the Company's Chief Executive Officer. Sikka's resignation followed criticism by Infosys's founders of certain decisions by the Company's board, including executive compensation and severance payouts. Sikka's resignation letter stated, in part: "Over the last many months and quarters, we have all been besieged by false, baseless, malicious and increasingly personal attacks"; and "This continuous drumbeat of distractions and negativity . . . inhibits our ability to make positive change and stay focused on value creation."
On news of Sikka's resignation, Infosys's American Depositary Receipt price has fallen as much as $1.43, or nearly 9%, during intraday trading on August 18, 2017.
The Pomerantz Firm, with offices in New York, Paris, Chicago, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
