Infosys McCamish Agrees to Settle US Cyber Incident Lawsuits for $17.5 Million

Infosys announced on Friday, March 14, that its subsidiary, Infosys McCamish Systems LLC, has reached an agreement in principle to settle six class action lawsuits in the United States. These lawsuits stemmed from a cyber incident that was reported in November 2023.

Settlement Terms and Mediation Outcome

Following mediation on March 13, 2025, McCamish and the plaintiffs agreed to settle all pending lawsuits, including those filed against both McCamish and its customers.

As per the proposed settlement, McCamish will contribute $17.5 million into a settlement fund to resolve all claims.

Company’s Statement 

According to a stock exchange filing, Infosys stated, “We would like to update that Infosys has reached an agreement in principle with the plaintiffs of these lawsuits pending against Infosys McCamish Systems LLC (McCamish) and a few of McCamish’s customers. This proposed agreement would settle all the pending class action lawsuits and resolve all allegations made in this matter.”

Finalisation and Court Approvals Required

While an agreement has been reached in principle, the settlement remains subject to due diligence, confirmation by plaintiffs, finalisation of terms, and preliminary and final court approvals.

Infosys emphasised that, once approved, the settlement will resolve all allegations without any admission of liability.

No Admission of Liability

“The proposed terms are subject to confirmation and due diligence by the plaintiffs, finalization of the terms of the settlement agreement, as well as preliminary and final court approval. Once approved, the settlement will resolve all allegations made in the class action lawsuits without admission of any liability,” Infosys added.

Cybersecurity Concerns and Resolutions

The lawsuits originated from a cybersecurity incident reported in November 2023, which affected McCamish and its customers.

The settlement aims to bring closure to the legal disputes arising from the breach while enabling Infosys McCamish to focus on strengthening its cybersecurity measures and customer relationships.

Stock Performance 

On March 17, 2025, Infosys share price traded 0.81% lower at ₹1,566.45 at 9:20 AM (IST). Infosys’ share price reached a 52-week high of ₹2,006.80, and a 52-week low of ₹1,359.10. As per BSE, the total traded volume for the stock stood at 0.15 lakh shares with a turnover of ₹2.38 crores.

At the current price, Infosys shares are trading at a price-to-earnings (P/E) ratio of 23.74x, based on its trailing 12-month earnings per share (EPS) of ₹66.03, and a price-to-book (P/B) ratio of 7.87, according to exchange data.

Conclusion 

The settlement marks a significant step for Infosys McCamish in resolving legal disputes stemming from the 2023 cyber incident.

While subject to final approvals, the agreement allows the company to move forward without admitting liability, focusing on enhancing cybersecurity measures and maintaining strong customer relationships in the future.

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