Satyam Computer face multiple fraud related lawsuits in USA
January 11th, 2009 Leave a comment Visited 80 times, 2 so far today
Satyam Computer face multiple fraud related lawsuits in USA
The problems for Satyam Computer are multiplying by the day.
The latest news in the market is that the Indian IT company faces multiple lawsuits in the USA claiming that the company duped thousands of American investors out of billions of dollars.
Vianale & Vianale LLP’s counsel Keneth J Vianale claims that the amount of money could be in hundreds of millions of dollars.
He said in a statement: “We have not alleged a specific damages amount that we are seeking. That will be a subject of expert testimony. However, in cases of this sort, it is not unusual for the damages to be in the hundreds of millions of dollars.”
NYSE has already halted trading of Satyam shares. They are now deciding whether to keep the company on their ticker.
fraud, Lawsuits, Legal Hassles, NYSE, Satyam, Satyam Computer, Satyam Computer Services, USA, Vianale & Vianale
Somanshu
Category: News
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