Infosys agrees to pay $17.5 million to settle lawsuits over US cyber incident

18-Mar-2025

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Infosys has agreed to pay $17.5 million to settle six class action lawsuits in the United States related to a cyber incident involving its subsidiary, Infosys McCamish Systems (McCamish).

The lawsuits were filed after a cybersecurity issue in November 2023 caused disruptions in some of McCamish’s applications and systems.

"In continuation to our statement dated November 3, 2023, and subsequent updates provided in our financial statements in respect of six class action lawsuits that were filed in the United States, we would like to update that Infosys has reached an agreement in principle with the plaintiffs of these lawsuits pending against Infosys McCamish Systems LLC ('McCamish') and a few McCamish’s customers," Infosys said in a stock exchange filing.

"On March 13, 2025, McCamish and the plaintiffs engaged in mediation, resulting in an agreement in principle, which sets forth the terms of a proposed settlement of class action lawsuits against McCamish, as well as class action lawsuits that have been filed against McCamish’s customers," Infosys added.

Under the proposed settlement terms, McCamish has agreed to pay $17.5 million into a fund to settle these matters. "The proposed terms are subject to confirmation and due diligence by the plaintiffs, finalization of the terms of the settlement agreement, as well as preliminary and final court approval. Once approved, the settlement will resolve all allegations made in the class action lawsuits without admission of any liability," Infosys stated.