NEW YORK, Oct. 21, 2019 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Infosys Limited (INFY) American Depositary Receipts (ADR).
According to news stories published on October 21, 2019, an anonymous group of Infosys employees who call themselves "Ethical Employees" sent a whistleblower letter to the Infosys's Board of Director alleging that the company's Chief Executive Officer and Chief Financial Officer were involved in unethical practices to boost Infosys's revenues and profits. The whistleblowers claim they have emails and recordings of conversations on the relevant matters. An Infosys spokesperson has confirmed that Infosys has received the letter and that its audit committee will review the matter.
As a result of this news, Infosys's American Depositary Receipt (ADR) price traded down to $9.15 per ADR, or down 13.4% on very heavy trading volume.
Infosys investors should contact Robert Finkel at (212) 759-4600 or (877) 370-7703 or at email@example.com.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. The firm's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com.
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Wolf Popper LLP
Robert C. Finkel
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Tel.: (877) 370-7703
Fax: (877) 370-7704