Infosys -Court ruling in favour of Infosys in Jack Palmer case: Prabhudas Lilladher,

Albama Court has given verdict in favor of Infosys. We see this is as a positive step
corroborating Infosys stading of no wrong-doing. The ruling include costs against
Palmer and didn’t condone Infosys for any conduct. We see the verdict to alleviate
one of the biggest concern on the stock performance. We expect 1‐3% uptick in the
stock price in today’s trading session.

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􀂄 Infosys – US federal court dismisses Jay Palmer case: The US court gave ruling
in favor of Infosys in Jack “Jay” Palmer Jr. vs Infosys Limited case. Judge Myron
H. Thompson of federal court for the Middle District of Alabama ruled that the
allegations by the whistle-blower, Jack Palmer, did not meet the standard under
Alabama law for a worker to claim negligent or outrageous mistreatment by an
employer. The judge found in favor of Infosys on all six civil claims Mr. Palmer
presented. Judge Thompson further ordered costs against Palmer."It is further
ordered that costs are taxed against plaintiff Palmer, for which execution may
issue," Judge Thompson said in his order
􀂄 Ruling does not touch upon visa issues: Judge Thompson noted that his
decision was limited to employment issues and did not touch on Mr. Palmer’s
visa accusations. Federal authorities in Texas are conducting a criminal
investigation of Infosys’s visa practices. The company has strongly denied that it
had any corporate policy of improper use of visas for Indian workers.
􀂄 The statements from both the parties after the verdict: Infosys says “Today’s
decision confirms what we have been saying from the beginning: Mr. Palmer’s
claims of retaliation were completely unfounded…” The lawyer for Mr. Palmer,
Kenneth J. Mendelsohn, said he was disappointed with the decision, but would
not comment further. “It is important for the public to understand that Judge
Thompson did not condone Infosys’ conduct,” he said.
􀂄 Ruling corroborate Infosys standing: The verdict in favor of Infosys would help
the company to look forward with its strategy. The case was one of the biggest
overhangs on the stock performance. Although, the investigation in visa case is
still on, but Infosys has denied any deliberate wrong-doing in visa case as well