Why Infosys Stock Tumbled Today

Shares of Infosys (NYSE: INFY) slumped on Monday after the digital services and consulting company received a complaint from a whistle-blower regarding its accounting practices. The stock was down 12.1% at 12:55 p.m. EDT.

A letter sent to Infosys's board of directors accused CEO Salil Parekh of using "unethical practices" to prop up revenues in the short term. The letter requested an investigation from the board, and it offered to provide email copies and voice recordings related to the complaint.

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Source Fool.com