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The Bangalore-based company, which already holds in excess of 11.8 million square feet of office space, has informed the US Securities and Exchange Commission that it will take seven properties on lease and develop one on its own.
Infosys said it is also "aware of a securities class action lawsuit" that has been filed against the company in a federal court in the US, based on the generalised allegations in the anonymous complaints. The company intends to defend itself vigorously in such a lawsuit.
"The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC's investigation," Infosys said in a statement.
Popular Internet search engine Google's chief executive Eric Schmidt and founders Larry Page and Sergey Brin were offered a raise in their salaries, which they declined to accept saying they would continue taking the token amount of $1 annually.
The company said in a filing to the US Securities and Exchange Commission that in addition to the salary, Pai earned a bonus/incentive of $117,336, other annual compensation of $21,779 and $15,287 as long-term benefits.
Phillipines, India, spoil Coca-Cola's party
SEC charged that Menezes, who retired in 2005 as senior vice chairman of Citigroup, allegedly sold Citigroup stock just before the April 15, 2002 company announcement about significant losses in its Argentine operations.
The US regulators on Wednesday fined Citigroup, American Express, J.P. Morgan Chase & Co and Putnam Investments a combined $81.25 million for failing to provide customers with necessary information about mutual funds.
Prabhat K Goyal, CFO, Network Associates, faces criminal charges for an accounting scam that duped investors by inflating the company's sales figures.
Long-term investors should look at scalability and execution capabilities as more important factors in making their investment decisions in the software sector.
Infosys directors - N R Narayana Murthy, Nandan Nilekani, T V Mohandas Pai (head of HR) and five others - have collectively offered 1.3 crores
Citi Group on Wednesday clarified that it owns 2.1 per cent equity stake in Tata-controlled Videsh Sanchar Nigam Ltd, which is less than 4.2 per cent that it had earlier reported with the US Securities and Exchange Commission.
To consider open offer if price falls below Rs 2,100 a share.
Infosys Technologies is now compliant with Section 404 of the United States' Sarbanes Oxley Act of 2002 (SOX Act) well ahead of the mandatory deadline of March 31, 2007.
Leading Israeli IT company, Ness Technologies, has submitted a prospectus to the US Securities and Exchange Commission for launching its initial public offer to raise capital for investments in India.
Former WorldCom Inc chief executive Bernad J Ebbers has been indicted on Federal criminal fraud charges in New York for his alleged role in the nation's largest accounting scandal.
Google, the Internet search engine major, may become a $30 billion company when it goes public.
The Securities and Exchange Commission will issue rules next month to curb trading abuses in the mutual fund industry that favour large institutional investors over individual shareholders, SEC Chairman William H Donaldson has said.
Flag Telecom and Pivotal Pvt Equity, the company, which had made an offer to acquire the former at a price higher than that offered by Reliance, have "mutually" decided not to pursue their discussions.
WorldCom Inc. is close to a settlement with the US Securities and Exchange Commission that would resolve charges it fraudulently misled investors and would require it to pay one of the largest fines ever levied by the agency.
Infosys Technologies Ltd said that its plan to enter China may have hit a roadblock due to the current outbreak of Severe Acute Respiratory Syndrome.
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