August 23, 2013
iGATE Corporation ("iGATE") (NASDAQ: IGTE), the first integrated technology and operations (iTOPS) company providing Business Outcomes-based solutions, today announced that on
August 22, 2013
, the class action lawsuit filed against iGATE and its former CEO, Phaneesh Murthy, (the "defendants") by a shareholder of iGATE on
June 14, 2013
in the United States District Court for the Northern District of
, was voluntarily dismissed by the shareholder plaintiff, without prejudice. No payment or consideration of any kind was made by any of the defendants in connection with the dismissal.
"We are pleased to put this matter behind us,"
commented Mr. Gerhard Watzinger, President and CEO of iGATE
. "With this resolution, we can move forward and continue to focus on delivering the top-quality services and solutions iGATE customers have come to expect."
iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE's multi-location global organization has a talent pool of more than 28,000 employees and consistently delivers effective solutions to over 300 companies including Fortune 1000 clients spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; energy and utilities; public sector; and independent software vendors. Please visit
for more information. iGATE Corporation is listed on NASDAQ under the symbol "IGTE."
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