US LAW FIRM BEGINS PREPARING CLASS-ACTION SUIT AGAINST INFOSYS ON WHISTLEBLOWER ALLEGATIONS

Prelims level : Mains level : GS-IV Code of Ethics
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Why in News?

  • Some anonymous Infosys employees have written to the company board accusing its CEO and CFO of being involved in unethical practices for several quarters.

Whistleblower:

  • A whistleblower is a person who exposes any kind of information or activity that is deemed illegal, unethical, or not correct within an organization that is either private or public.

Rosen Law Firm:

  • Global investor rights law firm.
  • It is dedicated exclusively to recovering investment losses for investors in public and private companies that have misrepresented material aspects of their business or whose officers and directors have breached their fiduciary duties to shareholders.

Class-action suit against Infosys:

  • To recover losses suffered by Infosys Ltd investors.
  • Whistleblower group has accused the Infosys management of taking “unethical” steps to boost short-term revenue and profits.
  • The whistleblower complaint has been placed before the Audit Committee as per the company’s practice and will be dealt with in accordance with the company’s whistleblowers policy.
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