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Infosys Shares Jump 5% as IT Giant Says No Prima Facie Evidence Found on Whistleblower Complaints

In a letter to the NSE dated November 2, the company said the anonymous complaints were still under investigation and it was not in a position to determine 'concreteness, credibility and materiality of complaints.'

Reuters

Updated:November 4, 2019, 11:43 AM IST
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Infosys Shares Jump 5% as IT Giant Says No Prima Facie Evidence Found on Whistleblower Complaints
Representative Image (Reuters)

Bengaluru: Indian IT services major Infosys Ltd said on Monday it found no evidence to prove the allegations in a whistleblower letter from last month, sending shares up 5% in morning trade.

In a letter to the National Stock Exchange dated Nov. 2, the company said the anonymous complaints were still under investigation and it was not in a position to determine "concreteness, credibility and materiality of complaints."

Infosys said last month that the U.S. Securities and Exchange Commission (SEC) had launched a probe into whistleblower claims that the Indian software services firm used 'unethical practices' to boost revenue and profit.

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