Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In iGATE Corporation To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at iGATE Corporation (“iGATE” or the “Company”) (NASDAQ: IGTE).
The investigation focuses on whether iGATE made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the investigation focuses on whether iGATE failed to disclose that the Company’s Chief Executive Officer and President, Phaneesh Murthy (“Murthy”), was maintaining an improper relationship with an iGATE employee, which violated the Company’s internal policies and that because of the relationship, Murthy put himself in a position to be terminated, thus endangering iGATE’s future success.
On May 20, 2013, after the market closed, the Company announced that its Board of Directors terminated the employment of Murthy for violating policy regarding his failure to report his relationship with a subordinate employee. Following this news, iGATE’s share price fell $1.58 per share or approximately 10%.
If you invested in iGATE stock or options between March 14, 2012 and May 21, 2013 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding iGATE’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.