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TheStreet Open House

Class Action Lawsuit Against IGATE Dismissed

Stocks in this article: IGTE

FREMONT, California, August 23, 2013 /PRNewswire/ --



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 California, 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.

     (Logo: http://photos.prnewswire.com/prnh/20130717/629294 )

"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."

About iGATE

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 http://www.iGATE.com for more information. iGATE Corporation is listed on NASDAQ under the symbol "IGTE."

Follow iGATE on Twitter: @iGATE_Corp ( https://twitter.com/iGATE_Corp ) iGATE on Facebook: http://www.facebook.com\igatecorporation



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