Contact Information: 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
INVESTOR ALERT: KGS Notifies U.S. and Foreign ADR Purchasers of Satyam Computer Services Ltd. With Losses Greater Than $250,000 of Lead Plaintiff Application Deadline in Securities Fraud Class Action Lawsuit -- SAY
| Source: Kahn Gauthier Swick, LLC
NEW ORLEANS, LA--(Marketwire - January 13, 2009) - 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.