Himachal Pradesh News Flash
Buisness

Executive of Cyient is cleared in a poaching charge by a US court

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.

Related posts

Do You Want a Property-Based Loan? SBI Offers This Option; Details Can Be Found Here

Lamborghini Urus vs. Bentley Bentayga: A Fight for Luxury SUV Supremacy

Rajnish Kumar, the former chairman of SBI, reveals his bank salary

If you disable Watch History, YouTube will stop recommending videos to you: how it works

The Q4 PAT reported by Torrent Pharma was 287 crore rupees

Update on foreign exchange: India’s foreign exchange reserves rose by $1.23 to $596.28