Infosys says in process of resolving U.S. visa investigation
BANGALORE (Reuters) - Indian IT firm Infosys Ltd (INFY.NS: Quote) said on Tuesday it was in the process of reaching a settlement with the U.S. government over the company's alleged misuse of temporary business visas.
U.S. authorities have been investigating India's second-largest information technology services exporter since 2011.
The Wall Street Journal had earlier said that the United States was expected to announce a resolution in the case on Wednesday. In a statement, Infosys said a resolution had yet to be finalized.
"In response to reports attributed to Justice Department officials, Infosys is in the process of completing a civil resolution with the government regarding its investigation of visa issues and I-9 documentation errors," the company said.
"The resolution has not been finalized," it added.
Indian IT outsourcing firms like Infosys use thousands of visas to bring in employees, mainly from India, a practice that has come under intense scrutiny as it is seen by some U.S. policymakers as hurting the American job market.
Earlier this month, Infosys said it had set aside a reserve of $35 million as it worked towards a resolution for the U.S. government's investigation.
(Reporting By Harichandan Arakali; Editing by Miral Fahmy)
© Thomson Reuters 2017 All rights reserved.