Sexual harassment lawsuit against Phaneesh Murthy and Infosys Technologies Limited settled
Bangalore, India – November 24, 2004: Mr. N. R. Narayana Murthy, Chairman and Chief Mentor of Infosys Technologies Limited (NASDAQ: INFY) today said:
“Infosys has learnt that the sexual harassment lawsuit filed by Ms. Jennifer Griffith, a former employee, against the Company and Mr. Phaneesh Murthy, a former director, has been settled by Mr. Phaneesh Murthy and Ms. Griffith, shortly before the October 29, 2004 trial date set for the lawsuit’s trial. Infosys has now learnt that the settlement agreement was recently signed by the parties to the settlement agreement – Mr. Phaneesh Murthy and Ms. Griffith.
Infosys did not contribute any money to the settlement and was not a signatory to the settlement agreement. However, Infosys has learnt from its insurers’ counsel that the settlement releases Infosys from all claims and liabilities alleged in the lawsuit.
Infosys learnt from its insurers’ counsel that the insurers contributed US$400,000 towards the settlement and this represented 50% of the total settlement payments. The remaining 50% contribution was paid by Mr. Phaneesh Murthy, since Infosys refused to make any contributions to the settlement.
As previously stated the Company has retained all rights against Mr. Phaneesh Murthy and did not release him from any claims it may have against him.”
Mr. Narayana Murthy added “I am glad that we stood by our objective of not contributing to the settlement of this sexual harassment case involving Phaneesh Murthy. ”