“…we would like to update that Infosys has reached an agreement in principle with the plaintiffs of these lawsuits pending against Infosys McCamish Systems LLC (McCamish) and a few McCamish’s customers. This proposed agreement would settle all the pending class action lawsuits and resolve all allegations made in this matter,” according to a stock exchange filing.
Following mediation on March 13, 2025, McCamish and the plaintiffs agreed to settle all pending lawsuits against both McCamish and its customers. Under the proposed terms, McCamish will pay $17.5 million into a settlement fund to resolve all claims.
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“On March 13, 2025, McCamish and the plaintiffs engaged in mediation, resulting in an agreement in principle, which sets forth the terms of a proposed settlement of class action lawsuits against McCamish, as well as class action lawsuits that have been filed against McCamish’s customers,” it said.
The agreement remains subject to due diligence, finalisation of terms, and court approvals. Infosys confirmed that, once approved, the settlement will resolve all allegations without any admission of liability.
“The proposed terms are subject to confirmation and due diligence by the plaintiffs, finalization of the terms of the settlement agreement, as well as preliminary and final court approval. Once approved, the settlement will resolve all allegations made in the class action lawsuits without admission of any liability,” it added.
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On Thursday (March 13), shares of Infosys Ltd ended at ₹1,579.25, down by ₹10.35, or 0.65%, on the BSE.
First Published: Mar 14, 2025 9:01 PM IST
