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Infosys Ltd Completes Civil Settlement with United States Government


Friday, 8 Nov 2013 06:52am EST 

Infosys Ltd announced that it has completed a civil settlement that concludes the investigation by the United States Attorney’s Office for the Eastern District of Texas and resolves all issues with the United States Department of State, Immigrations and Customs Enforcement and the United States 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 United States visa programs as a result of the settlement. In the settlement, Infosys Ltd agreed to pay USD 34 million to resolve all allegations, for which the Company had already taken a reserve of USD 35 million which included attorney’s fees. The settlement is focused on historical I-9 paperwork errors from 2010-2011 that Infosys began correcting before the investigation began. 

Company Quote

1092.4
2.75 +0.25%
12:06am EDT