Infosys, India's second-largest IT services company, has reached a settlement that will end an investigation into its use of US visas, Bloomberg reported late Monday night, citing people familiar with the matter.
The settlement with the US Attorney's Office for the Eastern District of Texas could be announced as early as Wednesday, the news agency reported.
InfosysBSE -0.36 % declined to comment.
In a filing with the US Securities and Exchange Commission earlier this month, Infosys had disclosed that it had received a federal grand jury subpoena seeking records related to its sponsorships for B-1 business visas and its use of those visas.
Infosys said it was co-operating with that probe.
Infosys also disclosed that it had set aside $35 million to pay for a potential settlement and was 'engaged in discussions' to resolve the matter.
The Bangalore-based firm has also resolved whistle-blower cases over its use of the visas.
The settlement with the US Attorney's Office for the Eastern District of Texas could be announced as early as Wednesday, the news agency reported.
InfosysBSE -0.36 % declined to comment.
In a filing with the US Securities and Exchange Commission earlier this month, Infosys had disclosed that it had received a federal grand jury subpoena seeking records related to its sponsorships for B-1 business visas and its use of those visas.
Infosys said it was co-operating with that probe.
Infosys also disclosed that it had set aside $35 million to pay for a potential settlement and was 'engaged in discussions' to resolve the matter.
The Bangalore-based firm has also resolved whistle-blower cases over its use of the visas.
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