Two class action suits filed against Satyam in U.S. Two class action suits filed against Satyam in U.S. Chartered Accountant CA ICAI Chartered Accountants CA ICAI CAinINDIA ICAI Announcements Accounting Standards CA News ICAI Students ICAI Members Case Laws CPT IPCC Final ICAI Course CA Course ICAI Forum CA Question Papers ICAI Study Material

« News Headlines »

How to report pension income while filing ITR
How you can file income tax return online DIY guide to ITR filing
How to file ITR-1 online
How to file ITR-1 online
New income tax rules with revised guidelines comes in effect from today
7 things to keep in mind while filing Income Tax Returns ITR filing
DIY guide to file your ITR
Income Tax return online filing: Ensure your Form 16 is valid and here is how you can check for it
How to report income from investments ITR filing
How to file income tax returns?
Will income tax department extend July 31 deadline for ITR filing?


« 120 employees have recently resigned from Satyam...	Satyam CAs, auditors may face severe punishment,... »
Two class action suits filed against Satyam in U.S.

January, 08th 2009
Investors in Satyam Computer Services Ltd's American Depositary Receipts (ADRs) have filed two class action suits against the Indian software services firm, the law firms representing the investors said on Thursday. Vianale & Vianale LLP and Izard Noble LLP have filed suits alleging Satyam and its top executives violated federal securities laws by issuing false and misleading financial statements, the law firms said in separate releases. On Wednesday, Satyam's founder and chairman Ramalinga Raju resigned and said profits had been falsely inflated for years, sending the company's shares down 80 percent in Mumbai. Trading in Satyam's ADRs was suspended before the opening of U.S. trade on Wednesday Izard has filed a lawsuit in the United States District Court for the Southern District of New York, while Vianale's suit is pending in the Manhattan federal court.