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Infosys shares fall amid US scrutiny on employer eligibility

Shares of Infosys on Monday fell nearly 4 per cent after company disclosed that US' Department of Homeland Security (DHS) is reviewing its employer eligibility after finding errors in identity verification forms of some of its staff.

twitter-logo PTI   New Delhi     Last Updated: April 23, 2012  | 15:30 IST

Shares of Infosys on Monday fell nearly 4 per cent after company disclosed that US' Department of Homeland Security (DHS) is reviewing its employer eligibility after finding errors in identity verification forms of some of its staff.

After a weak opening, shares of the company extended losses and its was trading 3.8 per cent lower at 2313 in the late trade on Monday.

Weakness in the heavyweight stock pulled down the BSE index, Sensex, was down over 200 points.

In a filing to the Securities and Exchange Commission, the company had said DHS is reviewing its employer eligibility verifications, after it found "significant percentage" of errors in Forms I-9 of some of its employees working in the country."

Form I-9 is used by an employer to verify an employee's identity and to establish that the worker is eligible to accept employment in the US and every employee hired has to complete an I-9 form at the time of hire.

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