Three US law firms to file class action suits against Infosys on Sikka exit

Firms are representing unnamed shareholders who they say suffered losses on after Sikka stepped down

Three US law firms have begun preparations to file class action lawsuits on behalf of unnamed shareholders who, they said, suffered losses on account of the resignation of Vishal Sikka as CEO.

Pomerantz LLP, Bronstein, Gewirtz & Grossman, and Rosen Law said they were investigating potential claims on behalf of shareholders over “materially misleading business information”.

On Friday, Sikka said he would step down as Infosys CEO. His action follows allegations over irregularities in the acquisition of Panaya, an Israeli technology firm, levelled by company founder NR Narayana Murthy.

“Infosys is listed in the US, where jurisdiction exists for shareholders