LEAD PLAINTIFF DEADLINE IS DECEMBER 23, 2019

NEW YORK, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP   announces that a federal securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all investors that purchased American Depositary Shares (“ADS”)   of  Infosys Limited ("Infosys" or the "Company") (NYSE: INFY) between July 7, 2018 and October 20, 2019 inclusive (the "Class Period").

Investors who purchased the ADS of Infosys Limited are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the ADS of Infosys Limited, you may, no later than December 23, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the ADS of Infosys Limited.   

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The filed Complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:

• the Company improperly recognized revenues to inflate short-term profits;
   
• the Company's CEO, Sail Parekh, bypassed reviews and approvals for large deals to
  avoid accounting scrutiny;
   
• management pressured the Company's finance team to hide information from auditors and the Company's Board of Directors; and
   
• as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
  

On October 21, 2019, Infosys disclosed that it had received whistleblower reports alleging “unethical practices” by the Company’s executive management.  Specifically, an unnamed group sent letters to Infosys’ Board of Directors and to the United States Securities and Exchange Commission (SEC), alleging that Infosys had taken “unethical” steps to inappropriately boost short-term revenue and profit.  These letters also alleged that Infosys’s Chief Executive Officer, Salil Parekh, was bypassing standard reviews of large contracts in order to bypass accounting scrutiny.

On this news, Infosys’ ADS price fell $1.28 per share, or 12.11%, to  close  at $9.29 per share on October 21, 2019.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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