Infosys Erases Loss After Report of U.S. Visa Rule Violation
This article is for subscribers only.
Infosys Technologies Ltd. erased losses after falling as much as 1.5 percent following a CNBC TV18 report that said a U.S.-based employee filed a suit against the Indian company for improper use of business visas.
The most recent case filed against Infosys in the U.S. was a complaint by an employee in Lowndes County, Alabama, on March 23. Jack “Jay” Palmer Jr. alleged the company was misusing the B-1 visa, a permit for temporary business visitors, to get around H-1B visa limitations, court documents show. CNBC didn’t say where it got the information for today’s report.