IT services major Infosys Ltd on Friday (March 14) said its subsidiary Infosys McCamish Systems LLC has reached an agreement in principle to settle six class action lawsuits in the United States related to a cyber incident reported in November 2023.

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,

Infosys McCamish Systems, impacted by a 2023 cybersecurity incident, will pay $17.5 million to resolve class-action lawsuits. The settlement follows mediation with plaintiffs and covers allegations against IMS and some customers.