The Bengaluru-based IT giant has agreed to pay $17.5 million, settling six class action lawsuits against its subsidiary Infosys McCamish Systems (IMS) and some of its clients. The company said the proposed agreement would settle all pending class action lawsuits (without admitting any liability) once approved.

Indian IT services provider Infosys on Friday said it had reached an agreement with the plaintiffs of lawsuits pending against its U.S. unit over the 2023 cyber incident. Infosys McCamish Systems has agreed to pay $17.

Indian IT services provider Infosys announced on Friday that it has reached a settlement agreement with plaintiffs involved in lawsuits against its U.S. unit over a 2023 cyber incident.

BENGALURU: Infosys McCamish Systems, a subsidiary of Infosys BPM, will pay USD 17.5 million to settle all the pending class action lawsuits.In a filing, Infosys said, "Infosys has reached an agreement in principle with the plaintiffs of these lawsuits pending against Infosys McCamish Systems LLC and a few McCamish’s customers.

Infosys McCamish Systems, impacted by a 2023 cybersecurity incident, will pay $17.5 million to resolve class-action lawsuits. The settlement follows m

McCamish, bought by Infosys BPM in 2009, is a platform-based BPO firm that provides life insurance and retirement software solutions and service offerings in the US

Infosys will make payments of $17.5 mn towards settlement of US lawsuits for a cyberattack that led to data being breached.

The Bengaluru-based firm said the proposed deal would settle all the pending class action lawsuits and resolve all allegations made in this matter

The cyber incident was first disclosed by Infosys in a stock exchange filing in November 2023. The company said it was working with a cybersecurity products provider to resolve the issue and had launched an independent investigation to assess the impact.