Infosys shares fall by 2%; US SEC initiate probe into whistleblower allegations

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Infosys shares on Thursday (October 24) declined 2 per cent after Securities and Exchange Board of India (SEBI) and US Securities and Exchange Commission initiated probe following the whistleblower complaints.

The scrip declined 1.95 per cent to ₹638 on the BSE. At the NSE, it fell 1.93 per cent to ₹638. On Monday, Infosys informed stock exchanges about anonymous whistleblower complaints alleging certain unethical practices.

“The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SECs investigation,” Infosys said in a statement.

Also, Sebi has requested additional information from the company concerning the anonymous complaints, and Infosys will provide the information as per its request, it added.

Following reports of whistleblower allegations on Monday, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices. The Bengaluru-based company said these had been placed before the audit committee.