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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
13 April 2023
Collecting participants…

Infosys Ltd ADR

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides...

    Ticker
    INFY.US
    ISIN
    US4567881085
    Sector
    Technology
    Industry
    Information Technology Services
    Country
    USA
    Address
    Plot No. 44/97 A, Bengaluru, India, 560100