The IT major Coforge announced on 8 August  that it has received a $11 million warning for an alleged data breach from a client in the North American region.

In its regulatory filing, the company said, “At this time, the company intends to refuse the client’s demands regarding the arbitration claim resolutions on the basis that, in the company’s view, such amounts are not reasonably subject to indemnification.”

According to Coforge, the number of claims and the class-action suit’s anticipated financial effects on the business “remain unascertained” at this time.

The corporation stated that it is not currently a party to any litigation or arbitration proceedings and that no lawsuit or arbitration proceeding has been filed against it in any tribunal, court, or agency.

Despite the notice, Coforge keeps offering the aforementioned client regular services, with no appreciable effect on the revenue it receives from them.

The company’s net sales climbed by 6% to Rs 1,209 crore from Rs 1,140 crore during the quarter that ended June 30, 2024. At Rs 81 crore, net profit decreased by more than 61% from the same period last year.

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