Four US law firms have started investigating against Information Technology (IT) company Infosys. They have started investigating these potential claims by Infosys investors that whether the company or its officials and directors have violated federal security rules?

This investigation started in a time when Infosys Chief Executive Officer (CEO) Vishal Sikka resigned from his post just days due to allegations of disturbances in the company's operations.

Law enforcement companies are Bronstine, Gavierz & Grossman, Rosen Law Firm, Pomerantz Law Firm and Goldberg Law PC.

Rosen said in a statement that he is investigating possible security claims from Infosys shareholders. It is alleged that Infosys gave incorrect business information to investors.

Explain that the global software company Infosys has announced a buyback of 11.3 crore shares on Saturday, on the face value of Rs 5, at the rate of Rs 1,150 per share.

Infosys said in a regulatory report filed on the Bombay Stock Exchange, "The Board of Directors has approved the buyback proposal of shareholders of 11.3 crore shares of face value of Rs. 1,150 per share, which will be Rs 13,000 crore."

This offer is 20.1% of total paid up capital and free reserve, which is 11.3 crore shares or 4.92% of total shares. Infosys has fixed a buyback price of Rs 1,150, which closed on Friday at 923.10 per share after the resignation of Sikka. After CEO's resignation, Infosys shares fell 9.6 percent.

The company had closed its shares on August 16 for trading, as the decision to buyback was to be decided in the board meeting. Infosys shares will open on August 22.

In the buyback offer, other expenses, including transfer of shares, GST, stamp duty, filing fee, advisory fees, brokerage, expenditure on public declaration, printing and sending expenses are not included. In this buyback price, the average market value of last three months has been given 19 percent premium.

In the regulatory report, the company said, "This buyback is under the approval of shareholders, which will be decided soon through voting."

The Board has constituted a buyback committee in which co-chairman Ravi Venkatesan, Vishal Sikka, interim CEO UB Praveen Rao, chief financial officer (CFO) MD Ranganath, Deputy CFO Jayesh Sangrakaja, consultant Inderpreet Sahni and company secretary A G S Manikantha is included.

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