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WELCOME TO THE SATYAM COMPUTER SERVICES LTD. SETTLEMENTS WEBSITE

 

IF YOU PURCHASED OR OTHERWISE ACQUIRED SATYAM COMPUTER SERVICES LTD.

AMERICAN DEPOSITORY SHARES (“ADSs”) OR ORDINARY SHARES

FROM JANUARY 6, 2004 THROUGH JANUARY 6, 2009,

YOU MAY BE ELIGIBLE FOR A PAYMENT FROM TWO SETTLEMENTS IN A CLASS ACTION

 

IMPORTANT DATES & DEADLINES

Submit A Proof of Claim Form:

Must be postmarked no later than
September 23, 2011

Request Exclusion from the Class:

Must be received no later than August 19, 2011

Object to the Settlements:

Must be received no later than August 19, 2011

The Court’s Settlement Hearing:

September 8, 2011 at 3:00 p.m. - The Hearing was held and the Settlements were approved.

 

The following is a summary of information presented in more detail in the Notice, that was mailed to potential Class Members that could be identified, and which you can access by clicking the box on the left.  Since this is just a summary, you should read the full Notice for additional details.

Please read this information carefully.  If you are a Class Member (as defined below), your legal rights will be affected by these Settlements and you may be eligible to participate in the two Settlements which total $150.5 million.  Subject to certain exceptions described in Question 6 of the Notice, the Class includes:

All persons and entities who: (a) purchased or otherwise acquired Satyam ADSs traded on the NYSE during the Class Period and were damaged thereby; and/or (b) were investors residing in the United States at the time they purchased or otherwise acquired Satyam Ordinary Shares traded on the Indian Exchanges during the Class Period and were damaged thereby.  The Class includes the Sub-Classes consisting of: (a) all persons who exercised options to purchase Satyam ADSs pursuant to Satyam Employee ADS Plans during the Class Period and who were damaged thereby; and (b) all United States residents who exercised options to purchase Satyam Ordinary Shares pursuant to Satyam Employee Ordinary Share Option Plans during the Class Period and who were damaged thereby. 

The Class Period is from January 6, 2004 through and including January 6, 2009.

 

Securities Brokers and other Nominees:  Please see instructions on page 20 of the Notice.

THE COURT’S SETTLEMENT HEARING

The Court will hold a hearing on September 8, 2011, at 3:00 p.m., at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, Courtroom 17C, 500 Pearl Street, New York, New York.  At this hearing, the Court will consider whether the Settlements are fair, reasonable and adequate, and should be approved, and will also consider the proposed Plan of Allocation for the proceeds of both Settlements and the application for attorneys’ fees and reimbursement of expenses.

Note: The Court may change the date or time of the Settlement Hearing without further notice.  If you plan to attend the Settlement Hearing, you should check with Lead Counsel (listed in the Contact Information link on the left) to be sure that the date and/or time has not changed.

 WHAT IS THIS LAWSUIT ABOUT?

Lead Plaintiffs allege that Defendants violated the Securities Exchange Action of 1934 and the Securities Act of 1933, by issuing materially false and misleading statements during the Class Period about Satyam’s financial results.

The Settling Defendants maintain that they have meritorious defenses to all claims that were raised or could have been raised in this Action. 

THE BENEFITS OF THE SETTLEMENTS

Satyam will deposit $125 million and the PwC Entities will deposit $25.5 million into interest-bearing escrow accounts.  The balance of these funds, after deduction of Court-awarded attorneys’ fees and expenses, notice and administration costs, any banking transaction costs and banking fees, any and all applicable taxes, and the establishment of a litigation fund for the continuing prosecution of the Action against the remaining defendants in the Action (the “Net Settlement Funds”), will be distributed to Class Members who timely submit valid Proofs of Claim that are accepted for payment by the Court (“Authorized Claimants”) in accordance with the plan of allocation that is approved by the Court.

OPTIONS AVAILABLE TO CLASS MEMBERS

If you are a Class Member, you may:

FILE A PROOF OF CLAIM FORM

To qualify for a payment, you must send in a timely, valid and completed Proof of Claim form with all required supporting documents (DO NOT SEND ORIGINALS) to the Claims Administrator.  You may download a Proof of Claim at the link on the left.  Please read the instructions carefully, fill out the Proof of Claim form, include all the documents the form asks for, sign it, and mail it to the Claims Administrator by first class mail, postmarked no later than September 23, 2011.

EXCLUDE YOURSELF FROM THE CLASS

If you want to keep any right you may have to sue or continue to sue any of the Released Settling Defendant(s) Parties concerning the Released Plaintiffs’ Claims, you may request to be excluded from the Class.  If you exclude yourself, you will not be legally bound by anything that happens in the Action.  To exclude yourself from the Class, you must send a signed letter stating that you “request exclusion from the Class in In re Satyam Computer Services Ltd. Securities Litigation, No. 09-MD-2027-BSJ (S.D.N.Y.)”.  In order to be a valid request for inclusion, your letter must include all the information specified in Question 13 of the Notice and it must be received no later than August 19, 2011 by the Claims Administrator.  You cannot exclude yourself from the Class by telephone or e-mail and your exclusion request must comply with these requirements in order to be valid.   

PLEASE NOTE: If you exclude yourself from the Class, you cannot participate in the Settlements.

      OBJECT TO THE SETTLEMENTS

If you are a Class Member and do not exclude yourself, you can object to either or both Settlements, the proposed Plan of Allocation, and/or the application by Lead Counsel for attorneys’ fees and reimbursement of expenses. 

To object, you must send a signed letter that includes all the information specified in Question 18 of the Notice.  All objections must be filed with the Court and mailed to all Counsel at the addresses listed on page 19, Question 18 of the Notice so that they are received no later than August 19, 2011.

FURTHER INFORMATION

Further information regarding the Settlements, the Notice and how to file your claim may be obtained by contacting the Claims Administrator or through reading the Notice and Proof of Claim that can be accessed through the links on the left.  You may also contact Lead Counsel at the addresses listed on the Contact Information link on the left.

IMPORTANT: THIS SITE IS NOT OPERATED BY SATYAM COMPUTER SERVICES LTD.  THESE SETTLEMENTS ARE SUPERVISED BY LEAD COUNSEL.  THE CLAIMS ADMINISTRATOR HANDLES ALL ASPECTS OF CLAIM PROCESSING.  THIS IS THE AUTHORIZED WEBSITE FOR THESE SETTLEMENTS.  PLEASE DO NOT RELY UPON OTHER SITES THAT SET OUT DIFFERENT AND UNAUTHORIZED INFORMATION.

 

 

 

 

 

 

Disclaimer

 

IMPORTANT: THIS SITE IS NOT OPERATED BY SATYAM COMPUTER SERVICES LTD.  THESE SETTLEMENTS ARE SUPERVISED BY LEAD COUNSEL.  THE CLAIMS ADMINISTRATOR HANDLES ALL ASPECTS OF CLAIM PROCESSING.  THIS IS THE AUTHORIZED WEBSITE FOR THESE SETTLEMENTS.  PLEASE DO NOT RELY UPON OTHER SITES THAT SET OUT DIFFERENT AND UNAUTHORIZED INFORMATION.