Satyam Coughs Up $125M To Exit Securities MDL

Law360, New York (February 17, 2011, 1:23 PM EST) -- Indian information technology company Satyam Computer Services Ltd. has agreed to pay $125 million to exit a multidistrict securities litigation alleging it cost investors billions of dollars by inflating its value.

The plaintiffs filed the settlement agreement Wednesday in the U.S. District Court for the Southern District of New York. The settlement must still be approved by a judge for it to go into effect, and claims against PricewaterhouseCoopers International Ltd., its affiliates and former executives at Satyam remain pending.

Also as part of the settlement,...
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