Update on US class action settlement against Indegene subsidiary (max USD 4.72M)
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Indegene's US subsidiary Indegene Inc. has substantially concluded settlement negotiations in a US class-action lawsuit under the Telephone Consumer Protection Act related to fax communications from 2020. Maximum settlement fund is about USD 4.72 million (around Rs 40 crore), but actual payout will be lower under the claims-made structure. Settlement is not an admission of liability and remains subject to court approval.
Limited financial impact expected - claims-made structure means actual outflow likely below USD 4.72M maximum. No admission of liability.