The Bangalore company has reached an out of court settlement with Reka Maximovitch, who had filed the suit against the company and former board member Phaneesh Murthy. Infosys said it would pay half the settlement amount, with the remainder coming from its insurers.
Infosys said the settlement would not affect its earnings. It added that it retained the right to proceed with legal action against Phaneesh Murthy.
Infosys chairman and chief mentor, NR Narayana Murthy (no relation to Phaneesh Murthy), said the company had strengthened its internal procedures and improved its checks and balances to handle any similar situations.
Source: Computerwire
