Securities Law News

Infosys Clears CEO After Probing Whistle-Blowers’ Claims (2)

Jan. 10, 2020, 12:45 PM

Infosys Ltd. raised its annual revenue outlook and cleared its top executives of wrong-doing after an investigation into whistle-blowers’ accusations of financial impropriety, handing Chief Executive Officer Salil Parekh a much-needed victory.

Asia’s second most-valuable IT outsourcer said an audit panel found no merit in accusations that Parekh or other executives had abused company resources or inflated profits. Parekh hadn’t bypassed internal deal-approval processes, the company said in a filing accompanying the release of its quarterly earnings.

On Friday, Infosys raised its outlook for revenue growth in the year ending March 2020 to 10% to 10.5%, versus a previous forecast...

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