INVESTOR ALERT: KGS Notifies U.S. and Foreign ADR Purchasers of Satyam Computer Services Ltd. With Losses Greater Than $250,000
January 13 2009 - 11:20PM
Marketwired
Kahn Gauthier Swick, LLC ("KGS") announces that a securities fraud
class action lawsuit was filed in the United States District Court
for the Southern District of New York, on behalf of purchasers of
American Depository Receipts ("ADRs") of Satyam Computer Services
Ltd. ("Satyam" or the "Company") (NYSE: SAY) between January 6,
2004 and January 6, 2009, inclusive (the "Class Period"). No class
has yet been certified in this action.
If you would like to discuss your legal rights, along with the
lead plaintiff position and its related responsibilities including
overseeing lead counsel with a goal of obtaining a fair settlement,
you may e-mail or call KGS Managing Partner Lewis Kahn, without
obligation or cost to you, toll free 1-866-467-1400, ext. 100, via
cell phone after hours at 504-301-7900, or by email at
lewis.kahn@kgscounsel.com.
Satyam and certain of its executive officers are charged with
violating the Securities Exchange Act of 1934. The complaint
asserts that the Company engaged in a fraud over many years that
involved the fictitious creation of $1 billion in cash, and a
significant overstating of revenues and profits. On the revelation
of this shocking news, Satyam shares have traded down to between $1
and $2 per share, significantly lower than the 52-week high of
$29.84.
If you wish to serve as lead plaintiff in this class action
lawsuit, you must move the Court no later than March 9, 2009. Any
member of the putative class may move the Court to serve as lead
plaintiff through counsel of their choice, or may choose to do
nothing and remain an absent class member. If you would like to
discuss your legal rights, you may e-mail or call KGS Managing
Partner Lewis Kahn, without obligation or cost to you, toll free
1-866-467-1400, ext. 100, after hours via cell phone 504-301-7900,
or by email at lewis.kahn@kgscounsel.com. To learn more about KGS,
you may visit www.kgscounsel.com. KGS is a law firm focused on
securities class action litigation with offices in New Orleans and
New York City.
KGS' lawyers have significant experience litigating complex
securities class actions. Among other cases, KGS has been appointed
Lead or Co-Lead Counsel in the following securities cases: In re
U.S. Auto Parts Networks, Inc. Securities Litigation, C.D. Cal.; In
re Optionable, Inc. Securities Litigation, S.D.N.Y.; In re Xethanol
Corporation Securities Litigation, S.D.N.Y.; Pixelplus Co. Ltd.,
S.D.N.Y.; Whitney Information Network, M.D. Fla.; In re Superior
Offshore International, Inc. Securities Litigation, S.D. Tex.; In
re Xinhua Finance Media, Ltd. Securities Litigation, S.D.N.Y.;
Terayon Comm. Systems Inc., N.D. Cal.; and In re BigBand Networks,
Inc. Securities Litigation, N.D. Cal.
SPECIAL NOTICE: KGS encourages you to carefully evaluate any
firm you may consider to represent your interests in the SATYAM
class action. The Private Securities Litigation Reform Act
("PSLRA") permits SATYAM shareholders to choose counsel of their
choice to prosecute this action. Critical components of a law
firm's ability to successfully prosecute this action and obtain a
strong recovery for you include the resources it will dedicate to
prosecution of the case, including the number of lawyers the firm
has available for the SATYAM action in particular, AND especially
the quality of the firm's work. Interested shareholders are
encouraged to call for consultation and to request more information
about KGS. While KGS has not filed suit yet, the firm is currently
conducting its own investigation of SATYAM and invites shareholders
to evaluate its complaint when choosing counsel.
Contact: Lewis Kahn Kahn Gauthier Swick, LLC 650 Poydras St.,
Suite 2150 New Orleans, LA 70130 1-866-467-1400, ext. 100
Lewis.kahn@kgscounsel.com
Saratoga Investment (NYSE:SAY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Saratoga Investment (NYSE:SAY)
Historical Stock Chart
From Jul 2023 to Jul 2024