Yet another class action lawsuit has been filed against Satyam. US-based law firm of Harwood Feffer LLP has said that on February 9, it has filed a new class action lawsuit against Satyam Computer on behalf of the purchasers of the American Depository Shares of Satyam Computer Services, for allegedly issuing false financial statements.
Harwood's complaint alleges that Satyam and its two top executives violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing misleading statements.
Wednesday, February 11, 2009
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