Infosys , one of India's leading IT services companies, has reached a significant milestone in resolving legal challenges stemming from a cyber incident involving its subsidiary, McCamish Systems. The company has agreed to pay $17.5 million to settle all pending class action lawsuits related to the incident, as per an update provided to stock exchanges.

Settlement Details

Infosys McCamish Systems LLC (McCamish) has reached an agreement in principle with the plaintiffs of six class action lawsuits filed in the United States. The proposed settlement, which came after a mediation session on March 13, 2025, aims to resolve all allegations made in this matter without admission of any liability.

Key points of the settlement include:

• McCamish has agreed to pay $17.5 million into a settlement fund.
• The settlement covers lawsuits against McCamish and some of its customers.
• The proposed terms are subject to confirmation, due diligence by the plaintiffs, and court approval.

Upcoming Board Meeting and Financial Results

In addition to the settlement news, Infosys has announced a crucial board meeting scheduled for April 16 and 17, 2025. The meeting agenda includes several important items:

1. Approval of audited consolidated and standalone financial results for Q4 and FY 2025.
2. Review of audited financial statements as per Indian Accounting Standards (INDAS) and International Financial Reporting Standards (IFRS).
3. Consideration of a final dividend for FY 2025.

Trading Window Closure

In compliance with Securities and Exchange Board of India (SEBI) regulations, Infosys will close its trading window from March 16, 2025, reopening on April 21, 2025. This closure is standard practice ahead of earnings releases to prevent insider trading.

Investor Call

The company has also announced plans to hold investor and analyst calls on April 17, 2025, to discuss the financial results and business outlook. Details of these calls will be published on the company's website in due course.

Conclusion

This settlement marks a significant step for Infosys in addressing the fallout from the McCamish cyber incident. The upcoming board meeting and financial results announcement will provide investors with crucial insights into the company's performance and future direction.

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, has announced two significant developments that underscore its commitment to innovation and artificial intelligence (AI) in the financial sector.

Expanded Collaboration with Citizens Financial Group

Infosys has revealed an expansion of its long-standing strategic collaboration with Citizens (NYSE: CFG), one of the oldest and largest financial institutions in the United States. This partnership extension aims to accelerate innovation, drive market leadership, and enhance customer service through AI-led transformation.

Key highlights of the expanded collaboration include:

• Leveraging Infosys' domain expertise in financial services
• Implementing innovative technologies such as AI, cloud, and automation
• Developing cloud-native domain platforms
• Achieving data center exit for Citizens
• Fostering an ecosystem of FinTech and hyperscaler collaborations
• Delivering hyper-personalized AI-powered customer experiences
• Enhancing operational resilience and stability

Michael Ruttledge, Chief Information Officer at Citizens Financial Group, emphasized the significance of this collaboration, stating, "Infosys has been a key strategic collaborator in Citizens' next-gen transformation program for the last five years. Together, we have not only modernized our technology landscape with domain-centric, cloud native platforms but also built a foundation for future growth aligned with Citizens' north star technology vision without losing focus on resiliency and stability."

Enterprise AI Research Findings

In a separate announcement, Infosys Knowledge Institute (IKI), the research arm of Infosys, released its largest survey on AI effectiveness to date. Titled "Infosys AI Business Value Radar," the report surveyed 3,240 companies worldwide across 132 different AI business use cases.

Key findings from the research include:

• 51% of AI use cases now deliver impact, with 19% fully meeting business objectives and 32% showing promise
• Organizations prioritizing core, transformational AI use cases are more likely to achieve business objectives
• Well-designed change management strategies and employee training can enhance AI deployment success rates by up to 18 percentage points
• White-collar and technically focused industries tend to achieve more success from AI
• IT, operations, and facilities is the most pursued AI use case category, followed by cybersecurity, resilience, and software development

Satish H C, EVP and Chief Delivery Officer at Infosys, commented on the findings, saying, "Enterprise AI is ready to scale. With effective use of data architecture, operating models, and employee readiness, businesses can accelerate their adoption of AI to achieve measurable success."

These developments highlight Infosys' growing influence in the AI and digital transformation space, particularly within the financial services sector. As the company continues to expand its partnerships and research initiatives, it is well-positioned to drive innovation and deliver value to its clients in an increasingly AI-driven business landscape.