Satyam Resolves Aberdeen Global and Other Claims
December 13, 2012 4:42 PM EST
The company has signed a confidentiality agreement with the claimants and paid $68 million to fully settle them, Satyam said in a statement on Thursday. Aberdeen and the funds had sought damages of about $298.3 million in a British court, it said.
Satyam was sold in a government-backed auction in 2009 after its founder and former chairman admitted to one of the country's biggest accounting frauds. The company, in the process of merging with parent Tech Mahindra, had also settled claims by Aberdeen-affiliated former investors in the United States in July, and a class-action suit in February 2011.
Most Popular Slideshows
Join the Conversation
- Chilling: New ISIS Video Addresses Australia; Aussie Teen Delivers Message
- The Pirate Bay Blockade: Cost Of Blocking Websites Like TPB Is Ridiculously High
- Xiaomi Mi4 And MiPad Prices Likely Slashed, Thanks To Rivals Oppo, OnePlus And Meizu
- Virginia Woman Who Posted Naked Image Of Ex-BF’s New Partner 1st Person Charged Under Revenge Porn Law
- No Mercy: ISIS, Father Stones to Death Daughter for Alleged Adultery
- Meizu MX4 Pro To Arrive In November In Black And White Colours, Features Higher Than QHD Display, Exynos 5430 SoC And 3 GB RAM
- iOS 8 Jailbreak Release Date is Doomed as Team Evad3rs Opts Out, Pangu Hits Snag – Report