Key Developments: iGATE Corp (IGTE.O)

IGTE.O on Nasdaq

37.75USD
2:18pm EDT
Price Change (% chg)

$0.22 (+0.59%)
Prev Close
$37.53
Open
$37.52
Day's High
$37.89
Day's Low
$37.08
Volume
83,200
Avg. Vol
324,788
52-wk High
$41.41
52-wk Low
$13.98

Search Stocks

Latest Key Developments (Source: Significant Developments)

iGATE Corp wins 5-year managed services IT contract with group Lansforsakringar in Sweden
Wednesday, 26 Feb 2014 05:00am EST 

iGATE Corp:Secured a five-year contract with Lansforsakringar Alliance.deal valued at $35 mln, will be enacted over an initial five-year engagement and will be delivered within Lansforsakringar Alliance.  Full Article

Orange selects iGate Corp to deliver large transformation programme in switzerland
Wednesday, 18 Dec 2013 08:21am EST 

iGate Corp:Says has secured a new five-year contract with Orange Communications SA (Orange Switzerland) to transform the telecom provider's IT infrastructure and rationalize its vendor landscape in Switzerland.Says five-year contract valued at $80 million with a possible one year extension to support its mission to provide customer service and increased operational efficiency.  Full Article

iGate Corp enters into new credit agreement
Monday, 25 Nov 2013 06:20am EST 

iGate Corp:Says it subsidiary Pan-Asia iGATE Solutions has entered into a credit agreement (the Credit Facility) for a secured term loan facility with DBS Bank Ltd and ING Bank N.V., Singapore (the lenders) with ING Bank N.V., Singapore, as security agent.Along with several of its 100% owned subsidiaries, has entered into a Guaranty with the Security Agent, under which the company has guaranteed all of the obligations of Pan-Asia under the Credit Facility.The Credit Facility has two components, Facility A and Facility B.Facility has a commitment amount of $270.0 million and an interest rate of LIBOR+3.25% and Facility B has a commitment amount of $90.0 million and an interest rate of LIBOR+2.00%.  Full Article

iGate Corp Appoints Ashok Vemuri As President And Chief Executive Officer
Wednesday, 11 Sep 2013 05:00pm EDT 

iGate Corp announced that Ashok Vemuri has been appointed as iGATE's President and Chief Executive Officer, effective September 16, 2013. Mr. Vemuri will also join iGATE's Board of Directors. Gerhard Watzinger, who has served as the Company's Interim President and CEO since May 2013, will remain with iGATE in an advisory role temporarily to assist with Mr. Vemuri's transition.  Full Article

iGate Corp Announces Dismissal Of Class Action Lawsuit
Friday, 23 Aug 2013 08:35am EDT 

iGATE Corporation announced that on August 22, 2013, the class action lawsuit filed against iGATE and its former CEO, Phaneesh Murthy, (the defendants) by a shareholder of iGATE on June 14, 2013 in the United States District Court for the Northern District of California, was voluntarily dismissed by the shareholder plaintiff, without prejudice. No payment or consideration of any kind was made by any of the defendants in connection with the dismissal.  Full Article

Levi & Korsinsky Notifies Investors With Losses On Their Investment In iGate Corp Of Class Action Lawsuit And Deadline Of August 13, 2013 To Seek Lead Plaintiff Position
Tuesday, 6 Aug 2013 02:14pm EDT 

Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased iGATE Corporation (iGATE or the Company) stock between March 14, 2012 and May 21, 2013. The complaint alleges that defendants issued materially false and misleading statements regarding the Company's business, operational, and compliance policies. Specifically, it is alleged that former CEO and President Phaneesh Murthy, as well as the Company, misrepresented or failed to disclose that Murthy was involved in a relationship with a subordinate which was allegedly in violation of iGATE's policies and Murthy's employment contract. On May 20, 2013, the Company disclosed that its Board of Directors terminated Murthy, effective immediately, after an internal investigation revealed the relationship in violation of iGATE's policy and Murthy's employment contract. On this news, iGATE securities declined $1.58 per share or nearly 10%, to close at $14.82 per share on May 21, 2013.  Full Article

Levi & Korsinsky Notifies Investors With Losses On Their Investment In Igate Corporation Of Class Action Lawsuit And Deadline
Friday, 19 Jul 2013 01:31pm EDT 

Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased iGATE Corporation stock between March 14, 2012 and May 21, 2013. The complaint alleges that defendants issued materially false and misleading statements regarding the Company`s business, operational, and compliance policies.  Full Article

Pomerantz Law Firm Reminds Shareholder With Losses On Their Investment In iGATE Corp Of Class Action Lawsuit And Upcoming Deadline
Friday, 12 Jul 2013 07:27pm EDT 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against iGATE Corp and certain of its officers. The class action, filed in United States District Court, Northern District of California, and docketed under CV 13 2737 PSG LHK, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of iGATE between March 14, 2012 and May 21, 2013 both dates inclusive (the Class Period). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's Chief Executive Officer and President "Murthy" was involved in an improper relationship with a subordinate employee in violation of iGATE's explicit policies to the contrary; and (ii) Murthy's improper conduct created a risk that he would be terminated from the Company, jeopardizing the Company's future success.  Full Article

Levi & Korsinsky Announces Class Action Lawsuit Against iGate Corp
Friday, 12 Jul 2013 02:23pm EDT 

Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased iGate Corp stock between March 14, 2012 and May 21, 2013. The complaint alleges that defendants issued materially false and misleading statements regarding the Company`s business, operational, and compliance policies. Specifically, it is alleged that former CEO and President Phaneesh Murthy, as well as the Company, misrepresented or failed to disclose that Murthy was involved in a relationship with a subordinate which was allegedly in violation of iGATE`s policies and Murthy`s employment contract. On May 20, 2013, the Company disclosed that its Board of Directors terminated Murthy, effective immediately, after an internal investigation revealed the relationship in violation of iGATE's policy and Murthy's employment contract. On this news, iGATE securities declined $1.58 per share or nearly 10%, to close at $14.82 per share on May 21, 2013.  Full Article

iGate Corp Wins $100 Million Global Infrastructure Services Contract From MetLife
Tuesday, 25 Jun 2013 02:44pm EDT 

iGate Corp announced a new five-year contract valued at over $100 million for providing global infrastructure services for MetLife, Inc., a global provider of insurance, annuities and employee benefit programs, serving 90 million customers. Celebrating the completion of 10 years of partnership in providing services globally to MetLife across North America, EMEA and Asia-Pacific, this additional deal deepens iGATE's relationship with MetLife, further increasing its level of engagement to include complex and mission critical services. Post the ALICO acquisition, MetLife has been executing on its strategy to simplify operations to realize the benefits of its global footprint and be better positioned to meet customer needs, reduce operating costs and operate as a truly global company. iGATE participated in a competitive bid to assist MetLife in building out Infrastructure model to manage its IT systems towards greater efficiency and flexibility, in order to drive lower costs and increase business agility. The bid was awarded to iGATE on its quality and creativity of the solution, as well as commercial structuring based on ITIL based Infrastructure support model.  Full Article

Photo

IGate says revenue to grow faster in second half, shares rise

- IT services company iGate Corp said revenue would grow faster in the second half of the year, after it reported better-than-expected quarterly results due to customer additions and higher revenue from Europe and financial industry clients.

Search Stocks