The complaint in the US said CEO Parekh skipped standard reviews of large deals to avoid accounting scrutiny. In fact, the company's finance team was pressured to hide details of these deals and other accounting matters from auditors and the company's Board of Directors.
"Based on these facts, the company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Infosys, investors suffered damages", a statement by the law firm said.
Schall said it encourages investors with losses in excess of $100,000 to contact the firm.
The class action lawsuit against Infosys Limited listed on NYSE for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the US Securities and Exchange Commission.
Investors who purchased the company's securities between July 7, 2018 and October 20, 2019, inclusive (the "Class Period"), have been asked to contact the firm before December 23, 2019, it said.