India Satyam Shares up 60 Percent Today

By Hercules K, BUSINESS 2.0 PRESS
Published: January 12 2009, 12:33 pm EST

I firstly reported on Jan 7 that founder B. Ramalinga Raju (and his brother) purposely inflated Satyam Computers earnings for by US $1.04 billion, resulting in the company stock plunging by about 75% The India government has now appointed a new board and CEO, sending the company shares up by more than 60% today.

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Questions about this post? Please contact Hercules K at hercules@business2press.com

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