Engineering and technology solutions provider Cyient stated on Tuesday that a federal judge has rejected mid-trial an action initiated by the US Department of Justice against an officer of the firm for allegedly violating a “No-Poach” agreement.
The lawsuit was dropped on April 28, according to a news statement from the business.
Six aerospace executives were accused of violating the Sherman Act by limiting the employment and recruitment of engineers in the lawsuit, which was brought up in December 2021.
Cyient Inc. is a co-defendant in the related civil class action litigation, which is still ongoing.
Cyient vehemently refutes any accusations and is taking every required action to support that denial. It anticipates that this issue won't have a significantly negative impact on the business's operations, finances, or liquidity.
Krishna Bodanapu, Executive Vice-Chairman & Managing Director of Cyient Limited, commented on the decision, saying, “Cyient has always operated with rigorous adherence to our Values First framework. The conviction of our executive was overturned, which demonstrates the highest ethical standards that our company upholds.