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Mahindra Satyam has said that the class action settlement agreement that was entered into between it and Lead Plaintiffs representing the Class on February 16, 2011, has been granted final approval by the United States District Court for the Southern District of New York. The judgment is subject to an appeal period of 30 days from the date of its entry.
The settlement shall become effective pursuant to its terms and the terms of the Judgment. In exchange for the settlement consideration, the Lead Plaintiffs and the members of the Class who do not opt-out of the Class, would release, among other things, their claims against the company.
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