Aberdeen Sues Satyam for $150 Million

Satyam Computer Services, now rebranded as Mahindra Satyam, said that it has received a claim from Aberdeen Global & Others for their alleged losses due to investment made in the company’s stock.

Aberdeen has claimed damages from Satyam towards the losses it suffered following the accounting scam allegedly committed by Satyam’s founder B Ramalinga Raju and his associates. Aberdeen has raised a claim for an estimated loss in excess of $150 million; as well as an opportunity loss and interest of 8% due to the investments made in Satyam.

Aberdeen has initiated action against Satyam by seeking the interference of the High Court of Justice, Queen’s Bench Division, Commercial Court in the UK.