Infosys has consented to pay $17.5 million, or about Rs 152 crore, to resolve claims pertaining to a cyber data breach at Infosys McCamish Systems (McCamish), its US subsidiary. November 2023 saw the security breach. It impacted certain McCamish customers and made the data of around 6.5 million people vulnerable to illegal access. This incident prompted the filing of the cases.
What Infosys’ regulatory filing said
Infosys stated in a regulatory statement on March 13, 2025, that during mediation, McCamish and the plaintiffs came to a preliminary understanding. A proposed settlement for class action lawsuits against McCamish and its clients is part of the accord.
All outstanding litigation will be resolved by the settlement, once it is finished and accepted by the court, with no admission of responsibility. The arrangement is still pending final court approval, plaintiffs’ due diligence, and confirmation.
“On March 13, 2025, McCamish and the plaintiffs engaged in mediation, resulting in an agreement in principle, which sets forth the terms of a proposed settlement of class action lawsuits against McCamish, as well as class action lawsuits that have been filed against McCamish’s customers”, the filing reads.
“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,” it further added.
The media revealed in February 2024 that Bank of America had found McCamish to be the source of a data breach connected to a ransomware assault that affected more than 57,000 people. Several lawsuits were filed against McCamish as a result of this occurrence. Infosys previously stated that the hack affected company earnings and expenses, resulting in a 60 basis point drop in its operating margin.
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