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INFY.US
id: 973
Infosys (INFY) Missed Estimates and Uncertain Environment Case
- In April, Infosys’s Q4’ 22 financial results missed consensus estimates, CEO warned of uncertain environment.
- On it, $INFY fell 9.8%, losing $6.9B+ of shareholder value.
- Investors may have grounds to suspect Infosys of planning setbacks.
On April 13, 2023, Infosys released its Q4 and fiscal year ended 31 March financial results, missing consensus estimates.
- The Company’s CEO explained it by unplanned project ramp downs in some clients and delays in decision making, which resulted in lower volumes.
- Infosys also warned that, while there had been some signs of stabilization, the environment remained uncertain.
On this news, $INFY fell 9.8% and lost over $6.9 billion of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that Infosys and its executives failed to timely disclose company’s operational problems, which consequently led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
04/13/2023