Judge Throws Out Palmer Case Against Infosys
Dismisses Case Entirely
MONTGOMERY, Ala., August 20, 2012 – Infosys, a global leader in consulting and technology, today prevailed in its defense of a lawsuit filed by one of its employees, Jack “Jay” Palmer. United States District Judge Myron H. Thompson found no basis to support any of the charges filed by Palmer and dismissed the case entirely, writing, "Judgment is entered in favor of defendants Infosys Technologies Limited Incorporated and Infosys Limited and against plaintiff Jack "Jay" Palmer, Jr., with plaintiff Palmer taking nothing by his complaint." Judge Thompson further ordered costs against Mr. Palmer.
Infosys released this statement shortly after learning of the judge's decision:
"Today's decision confirms what we have been saying from the beginning: Mr. Palmer’s claims of retaliation were completely unfounded. This is a company built on core values that include leadership by example, integrity and transparency. Those values always have and will continue to shape the way we do business with our clients and, without exception, the way we treat our people. We are pleased to consider this matter officially closed."
Many of the world’s most successful organizations rely on the 151,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow’s enterprise.
For more information about Infosys (NASDAQ: INFY), visit www.infosys.com
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K for the quarters ended June 30, 2011 September 30, 2011 and December 31, 2011.These filings are available at www.sec.gov . Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.