News: Phaneesh Murthy affair: Class action suit filed in US against iGate

C-Suite

Phaneesh Murthy affair: Class action suit filed in US against iGate

Outsourcing firm iGate has been slapped with class action lawsuit in the US for alleged violations of federal securities laws in view of its sacked CEO Phaneesh Murthy's "improper relationship" with a subordinate employee, Economic Times reported.

Outsourcing firm iGate has been slapped with class action lawsuit in the US for alleged violations of federal securities laws in view of its sacked CEO Phaneesh Murthy's "improper relationship" with a subordinate employee, Economic Times reported.

The suit has been filed on behalf of persons or entities who purchased or acquired securities of iGate between March 14, 2012 and May 21, 2013.

The New York-Based law firm, Pomerantz Grossman Hufford Dahlstrom & Gross LLP, filed the class action lawsuit against US-based iGate Corporation and some of its officers in the US District Court of Northern District of California on June 14.

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Topics: C-Suite, Diversity, #Updates

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