Indian IT services provider Infosys announced on Friday that it has reached a settlement agreement with plaintiffs involved in lawsuits against its U.S. unit over a 2023 cyber incident.

The Bengaluru-based IT giant has agreed to pay $17.5 million, settling six class action lawsuits against its subsidiary Infosys McCamish Systems (IMS) and some of its clients. The company said the proposed agreement would settle all pending class action lawsuits (without admitting any liability) once approved.

Infosys McCamish Systems has agreed to pay $17.5 million into a fund to settle all the pending class action lawsuits and resolve all allegations made in the incident. In November 2023, Infosys had disclosed that Infosys McCamish Systems was impacted by a cyber security event,

Tech giant Infosys, on Friday said that the company has agreed to pay a whopping $17.5 million to settle the lawsuits pertaining to the McCamish cyber security incident. In a statement on exchanges, Infosys said that Infosys McCamish Systems (IMS),