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

« Top Headlines »

Open DEMAT Account in 24 hrs
How to Change Current Period in Tally Prime Step-by-Step Guide for Users
Global Payroll Management with Tally Prime: How International Businesses Use It Beyond India
How to Manage B2B HSN Codes in Tally Prime: A Complete Guide for Businesses
How to Check Business Revenue in Tally Prime: A Complete Step-by-Step Guide
MSME Payment Rule in Tally Prime: Understanding the Law and Its Impact on Businesses in 2025 The MSME (Micro, Small and Medium Enterprises) Payment Rule is a legal framework introduced under th
Multipurpose Empanelment Form (MEF) 2025 26 Meaning, Purpose, and How to Manage It in Tally Prime
GST Appellate Tribunal (GSTAT) Structure, Powers, and Its Relevance in Tally Prime Implementation
How Tally Prime Supports the Real Estate & Construction Industry in India
Comparison Between Tally Prime 6.1 and Tally Prime 6.2
How Tally Prime Renewal Helps Save My Data
Where to Buy Tally Prime 7.0 at the Best Rates Possible


« 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.