Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that a federal class action lawsuit has been filed against iGate Corp. (“iGate” or “Company”) (NASDAQ: IGTE). The firms are investigating additional legal claims against the officers and Board of Directors of iGate during the period of March 14, 2012 to May 21, 2013 (the “Class Period”).
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607 or via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
In a recently filed federal class action complaint, iGate and its CEO, Phaneesh Murthy, were charged with violating certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that among other things, defendants’ misrepresented and/or failed to disclose that: (a) the Company’s CEO and President was involved in an improper relationship with a subordinate employee in violation of iGate’s explicit policies to the contrary; and (b) Murthy’s improper conduct created a risk that he would be terminated from the Company, jeopardizing the Company’s future success. Further, the complaint alleges that the share price dropped substantially when the Company disclosed that it terminated Murthy after an internal investigation revealed that he had an improper relationship with an employee in violation of company policies.
Shareholder rights attorney Willie Briscoe said, “Recent revelations about alleged improper business practices and procedures regarding key aspects of iGate’s business and other misleading financial statements have prompted the firms to investigate possible breaches of fiduciary duties and other violations of state law by iGate’s officers and directors. Based on our investigation, we are prepared to pursue litigation to preserve the company and the value of iGate stock for all shareholders.”