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New York, Nov 10 (Bloomberg) Satyam Computer Services Ltd., the company at the centre of India?s biggest corporate-fraud inquiry, said U.S. lawsuits filed against it should be dismissed because its home country is the proper place for the litigation. "This case belongs in India," the auditors wrote. "Satyam?s alleged billion-dollar fraud, as well as the allegedly improper audit, took place in India. Virtually all of the defendants are India-domiciled companies or individuals." Satyam?s shares and American depositary receipts have plunged since Jan. 7, when Chairman Ramalinga Raju revealed an accounting fraud and resigned. Investors in the U.S. filed at least a dozen class-action lawsuits that have been consolidated before U.S. District Judge Barbara Jones in New York. |
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