Satyam to pay US$68 million to settle fraud claims

Mahindra Satyam will pay US$68 million to Aberdeen Global and 22 other funds in order to settle claims for alleged fraudulent misrepresentations.

The allegations of fraudulent misrepresentations were made by the former management of Satyam in London.

In a Bombay Stock Exchange (BSE) filing, Mahindra Satyam said that it signed a confidential settlement agreement to settle these claims made by those who are said to have lost about US$298 million.

Register or Login to continue

This article is only available for subscribers. Sign up now for free and get free access to premium content from ARN, CIO, CSO, CMO, Computerworld, and PC World.

[[ message ]]
[[ message ]]
Follow our new CSO Australia LinkedIn
Follow our new social and we'll keep you in the loop for exclusive events and all things security!
Have an opinion on security? Want to have your articles published on CSO? Please contact CSO Content Manager for our guidelines.

Tags fraudMahindra Satyam

More about Mahindra SatyamSECSecurities and Exchange Commission

Show Comments

Featured Whitepapers

Editor's Recommendations

Brand Page

Stories by Anuradha Shukla

Latest Videos

More videos

Blog Posts