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Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against IGATE Corporation

Stocks in this article: IGTE

Rigrodsky & Long, P.A.:

  • Do you, or did you, own shares of iGATE Corporation (NASDAQ GS: IGTE )?
  • Did you purchase your shares before March 14, 2012, or between March 14, 2012 and May 21, 2013?
  • Did you lose money in your investment in iGATE Corporation?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the common stock of iGATE Corporation (“iGATE” or the “Company”) (NASDAQ GS: IGTE) between March 14, 2012 and May 21, 2013, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of iGATE during the Class Period, or purchased shares prior to the Class Period and still hold iGATE, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/igate-corporation-igte.

iGATE is a worldwide outsourcing provider of integrated end-to-end offshore centric information technology (“IT”) and IT-enabled operations solutions and services. According to the Company, its future prospects and success were particularly dependent upon the services of its Chief Executive Officer and President, Phaneesh Murthy (“Murthy”), the creator of the iGATE’s revolutionary outcome-based pricing model. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, by concealing from the investing public that: (i) Murthy was involved in an improper relationship with a subordinate employee in violation of iGATE’s explicit policies; and (ii) Murthy’s improper conduct created a risk that he would be terminated from the Company, jeopardizing the Company’s future success. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

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