PwC Agrees To Pay $25M To Exit Satyam Securities MDL

Law360, New York (April 29, 2011, 10:04 PM EDT) -- Investors sought a New York federal court's approval Friday of a $25.5 million settlement with PricewaterhouseCoopers International Ltd. and four affiliates in multidistrict litigation claiming PwC aided Satyam Computer Services Ltd. in a fraud scheme that cost them billions.

The plaintiffs, investors who purchased stock in Satyam, already scored $125 million in a settlement with the Indian information technology company in February. The lawsuit accuses Satyam of inflating its value and PwC of signing off on misleading audit reports.

Plaintiffs in the proposed class action asked...
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