The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from PR Newswire

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on Their investment in iGATE Corporation of Class Action Lawsuit Investigation - IGTE

Thursday, May 30, 2013

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on Their investment in iGATE Corporation of Class Action Lawsuit Investigation - IGTE

18:05 EDT Thursday, May 30, 2013

NEW YORK, May 30, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of iGATE Corporation ("iGATE" or the "Company") (NASDAQ: IGTE) (CUSIP: 45169U105) who purchased iGATE  common stock between March 14, 2012 and May 21, 2013 (the "Class Period"). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.

The investigation concerns whether iGATE and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On May 20, 2013, the Company disclosed that its Board of Directors terminated the employment of President and CEO Phaneesh Murthy, effective immediately after an internal investigation revealed that Murthy had a relationship "with a subordinate employee and a claim of sexual harassment" in violation of iGATE's policy and Murthy's employment contract. 

On this news, iGATE securities declined $1.58 per share or nearly 10%, to close at $14.82 per share on May 21, 2013.

The Pomerantz Firm, with offices in New York, Chicago, San Diego, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: Robert S. Willoughby Pomerantz Grossman Hufford Dahlstrom & Gross LLP rswilloughby@pomlaw.com

 

SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections