Infosys settles six class-action lawsuits against US subsidiary for $17.5 million

The Indian tech giant said that it reached an agreement in principle with the plaintiffs of the six class-action lawsuits filed against IMS and a few of its customers, the company said in a regulatory filing dated March 14.

On March 13, 2025, IMS and the plaintiffs engaged in mediation, in which the former agreed to pay $17.5 million into a fund to settle lawsuits filed against McCamish and its customers, the filing said.

“The proposed terms are subject to confirmation and due diligence by the plaintiffs, finalisation of the terms of the settlement agreement, as well as preliminary and final court approval,” it added.

Once approved, this proposed agreement would settle all the pending class-action lawsuits and resolve all allegations made in this matter without admission of liability, Infosys added.

The six class-action lawsuits pertain to a cyber attack, dating November 3, 2023, on IMS systems, which resulted in the “non-availability of certain applications and systems”.

As per court documents, the breach exposed the data of approximately 6 million individuals.

Shares of Infosys settled in the red at ₹1,579.85, down 0.69% on the National Stock Exchange (NSE) on Thursday, March 12.

The stock has fallen 6.39% on a month-to-date basis and 15.97% since the beginning of the year.

Infosys has a total market cap of ₹6.56 lakh crore as of March 15, 2025, on the NSE.