Infosys confirms US Securities Exchange Commission probe

Mumbai: In a regulatory update, Infosys on Thursday confirmed probe into the whistleblower’s allegations by the Securities and Exchange Board of India (Sebi) and the US Securities Exchange Commission (SEC). The Bengaluru-based IT major also said a class action lawsuit has been filed against it in the US.

Surprisingly, amidst all the trouble, in an apparent move to lift the sagging morale of its employees, the software major announced grant of stock incentives of around 23 lakh shares to around 7,000 thousand mid-level eligible employees.

The Infosys stock remained the whipping boy of the market for the fourth day, closing 2.36 per cent down at Rs 635.40 on the BSE. Reports said the Sebi has sought additional information from the company.