BENGALURU: Infosys McCamish Systems, a subsidiary of Infosys BPM, will pay USD 17.5 million to settle all the pending class action lawsuits.
In a filing, Infosys said, "Infosys has reached an agreement in principle with the plaintiffs of these lawsuits pending against Infosys McCamish Systems LLC and a few McCamish’s customers. This proposed agreement would settle all the pending class action lawsuits and resolve all allegations made in this matter."
In November 2023, the company disclosed that Infosys McCamish Systems was impacted by a cybersecurity event resulting in non-availability of certain applications and systems in IMS.
The company worked with a leading cybersecurity products provider to resolve this and had also launched an independent investigation with them to identify the potential impact on systems and data.
In April last year, the company reported that Infosys McCamish Systems incurred loss of about $38 million and that it has identified 6.5 million individuals whose information was subject to unauthorised access and exfiltration during the incident.
"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," it added in the filings.
"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 added.