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Infosys Ltd Completes Civil Settlement With U.S. Government


Wednesday, 30 Oct 2013 08:07am EDT 

Infosys Ltd announced that it has completed a civil settlement that concludes the investigation by the U.S. Attorney's Office for the Eastern District of Texas and resolves all issues with the U.S. Department of State, Immigrations and Customs Enforcement and the U.S. Department of Homeland Security relating to I-9 paperwork errors and visa matters that were the subject of the investigation. There were no criminal charges or court rulings against the Company. Furthermore, there are no limitations on the Company's eligibility for federal contracts or access to U.S. visa programs as a result of the settlement. In the settlement, Infosys agreed to pay $34 million to resolve all allegations, for which the company had already taken a reserve of $35 million which included attorney's fees. 

Company Quote

2001.9
35.6 +1.81%
19 Dec 2014