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Follow UsNEW DELHI: Infosys Technologies Ltd has informed BSE that chairman and chief mentor of Infosys, NR Narayana Murthy has said, "Infosys has learnt that the sexual harassment lawsuit filed by Jennifer Griffith, a former employee, against the company and Phaneesh Murthy, a former director, has been settled by Murthy and Griffith, shortly before the October 29, 2004 trial date set for the lawsuit's trial. Infosys has now learnt that the parties to the settlement agreement - Phaneesh Murthy and Griffith, recently signed the settlement agreement.
On signing the agreement, the CEO of iGate, Murthy said, "After the last iGate board meeting, taking into consideration the momentum we are seeing in the company, contrary to my earlier stand in this regard, I have chosen to participate in a settlement to close this case. This has been a very difficult decision for me, a clash of my personal beliefs and the responsibilities of running a large public company, and the implications of a CEO taking weeks/months off to fight a lawsuit."
"This is to ensure that this chapter is behind us, and in no way distracts from my current responsibilities at iGATE," he added.
Infosys did not contribute any money to the settlement and was not a signatory to the settlement agreement. However, Infosys has learnt from its insurers' counsel that the settlement releases Infosys from all claims and liabilities alleged in the lawsuit.
Infosys learnt from its insurers' counsel that the insurers contributed $400,000 towards the settlement and this represented 50 percent of the total settlement payments. Phaneesh Murthy paid the remaining 50 percent contribution, since Infosys refused to make any contributions to the settlement.
As previously stated the company has retained all rights against Phaneesh Murthy and did not release him from any claims it may have against him".
Narayana Murthy added, "I am glad that we stood by our objective of not contributing to the settlement of this sexual harassment case involving Phaneesh Murthy."