September 13, 2011 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
September 8, 2011 - The court held a final settlement hearing.

May 12, 2011 - The court preliminarily approved the settlement.

May 3, 2011 - The defendants filed a motion to dismiss the second amended consolidated complaint.

April 29, 2011 - Parties filed a stipulation of settlement.

February 18, 2011 - Another plaintiff filed a second amended consolidated complaint.

February 17, 2011 - The lead plaintiffs filed an amended consolidated complaint.

July 17, 2009 - The lead plaintiffs filed a consolidated complaint.

May 12, 2009 - The lead plaintiffs and lead counsel were appointed.

April 28, 2009 - The court ordered cases consolidated into a multi-district case.

April 9, 2009 - The court ordered all cases transferred to U.S. District for the Southern District of New York.

March 16, 2009 - The court vacated the order of consolidation and lead plaintiff and counsel order.

March 13, 2009 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

January 22, 2009 - An additional investor filed a complaint on behalf of investors who purchased American Depositary Shares (ADRs) of Satyam Computer Services Limited (NYSE: SAY) between January 29, 2004 through January 6, 2009.

January 20, 2009 - An additional investor filed a complaint on behalf of investors who purchased American Depositary Shares (ADRs) of Satyam Computer Services Limited (NYSE: SAY) between January 22, 2004 through January 6, 2009.

January 9, 2009 - An additional investor filed a complaint in the U.S. District Court for the Northern District of California on behalf of investors who purchased American Depositary Shares (ADRs) of Satyam Computer Services Limited (NYSE: SAY) between January 1, 2004 through January 6, 2009.

January 8, 2009 - February 6, 2009 - Additional investors filed complaints

January 07, 2009 - An investor in American Depositary Shares (ADRs) of Satyam Computer Services Limited (NYSE: SAY) filed a lawsuit in U.S. District Court for the Southern District of New York against Satyam Computer Services Limited over alleged violations of Federal Securities Laws between January 6, 2004 through January 6, 2009.

According to the complaint the plaintiff alleges that Satyam Computer Services Limited (NYSE: SAY) and its top executives violated Section 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing false and misleading financial statements. Specifically, on January 7, 2009, Satyam Computer Services Limited's CEO B. Ramalinga Raju sent a letter to the Satyam Computer Services Limited Board of Directors and the Securities & Exchange Board of India acknowledging a multi-year fraud in which Satyam Computer Services Limited's financial accounts and disclosures were systematically falsified. According to the letter, Raju admitted to having inflated the amount of cash on the Satyam Computer Services Limited 's balance sheet by nearly $1 billion, incurring liability of $253 million on funds arranged by him personally, and overstating Satyam Computer Services Limited's September 2008 quarterly revenues by 76% and profits by 97%. As a result of this disclosure, so the lawsuit, pre-market activity in the stock indicates a loss of roughly 90% of its value. Satyam Computer Services Limited ADRs fell $8.42, or 90%, prior to the opening of the New York Stock Exchange, which has suspended trading in Satyam Computer Services Limited's ADRs. Raju, Satyam Computer Services Limited’s 54-year-old founder, his younger brother Rama and Chief Financial Officer Srinivas Vadlamani will seek bail on Jan. 16. They were remanded to judicial custody on charges of breach of trust, criminal conspiracy and forgery until Jan. 23. Raju has reportedly assembled a team of 25 lawyers to defend him.

Satyam Computer Services Limited, founded in 1987, made its name by helping companies tackle the year 2000 computer bug. By 2001, the so-called Y2K revenue was substituted by software that helped companies to complete transactions over the Internet. The fall of Raju began three weeks ago when Satyam Computer Services Limited proposed paying $1.6 billion for Maytas Properties Ltd. and Maytas Infra Ltd., both tied to his family. Reportedly Raju’s admission that he’d fabricated $1 billion in cash and assets sparked a record plunge in the company’s shares that wiped out $2.2 billion of investor wealth. The stock surged 68 percent to 38.25 rupees, valuing the company at $331 million. The company’s founder, named Ernst & Young Entrepreneur of the Year in 2007, was consequently arrested in India’s biggest corporate fraud investigation. Reportedly three new directors led by Housing Development Finance Corp., India's second-largest private sector bank, chairman Deepak Parekh met in Hyderabad to take over India’s fourth-largest software exporter after the government replaced its board. The other two board members are former regulator C. Achuthan and Kiran Karnik, ex-president of the nation’s software industry lobby group. The initial challenge facing the new directors will be to find money to pay this month's wages to the company's employees. The company will hire executives to replace arrested chairman Ramalinga Raju and chief financial officer Srinivas Vadlamani, said Deepak Parekh. The Government-appointed new board of Satyam Computer Services Limited Computer Services, which is facing about a dozen lawsuits in the US courts, on Monday (January 12), said it has not sought any protection against the lawsuits but “certain protection” will be needed. “We have not sought any immunity as such, but certain protection will be required. Otherwise, the board will unnecessarily be entangled with the litigation,” C Achuthan, one of the three board members, told reporters in Hyderabad. About a dozen lawsuits have been filed against Satyam Computer Services Limited, along with its founder and former Chairman B Ramalinga Raju, and ex-CEO and MD Rama Raju, in the US courts, on charges of duping billions of dollars from thousands of the American investors. Ten of the most senior executives at Satyam Computer Services Limited, including interim Chief Executive Officer Ram Mynampati, and about 40 other top managers have committed to remain with the company. In a statement top Satyam Computer Services Limited executives said: Satyam is facing a major crisis in which the unity and clear strategic direction of its top leadership are of paramount importance and this collective commitment will serve to significantly assuage concerns of various stakeholders in a highly fluid and challenging situation. Satyam Computer Services Limited has also formulated a task force to address all ongoing operational issues to ensure business continuity, including maintaining customer confidence.

According to Bloomberg Satyam Computer Services Ltd, may seek a bailout and ask clients to accelerate payments.

IGate Corp, a U.S, based computer services provider with operations in India, recently said it may consider merging with Satyam if the new management seeks a strategic partner.

Also new questions were raised about the relationship between Satyam and PricewaterhouseCoopers (PwC) as the first statements collected from senior executives by the police emerged. Vadlamani Srinivas, Satyam's former chief financial officer, which was remanded to judicial custody after the revelation of a $1 billion fraud in the Indian software company and will according to Inspector General V.S.K. Kaumudi be in custody until Jan. 23, reportedly said that PwC, which had audited the accounts of India's fourth-largest outsourcer since 2000, and B.Ramalinga Raju, its chairman, had communicated directly about the fictitious cash. He said, that he had been left out of conversations regarding nearly $1 billion in fixed deposits on Satyam's books, which turned out not to exist. If true, the arrangement would have been highly unusual, experts said. The Institute of Chartered Accountants of India, which has the power to debar the firm from India indefinitely, has issued a notice to PwC's local auditing unit, Price Waterhouse, demanding that it explain Satyam's accounts within 21 days. Deepak Parekh, said that Satyam would appoint a new accounting firm within 48 hours to restate its financial position and publish its third-quarter results. “No one has faith in the numbers being produced so far,” Parekh said. “Unless the accounts are restated, the outlook for Satyam can’t be the same.”

The initial investigations by the Registrar of Companies (RoC) into the Satyam scam has revealed large-scale selling of the company's shares by institutional investors just days before Ramalinga Raju's startling confession. The sales took place after the Satyam-Maytas merger fiasco which, too, might have encouraged these big players to exit the IT major. But sources reportedly said five sales between December 23 and January 5 are particularly under the scanner. These sales were all involving shares pledged by the Raju family with various entities to raise loans. All of them were conducted through IL&FS Trust Company as a trustee for these debenture holders and lenders.

On December 23, DSP Merrill Lynch sold shares. Interestingly, DSP Merrill Lynch was less than a week later appointed by Satyam to consider strategic options for the company following criticism of the aborted Maytas acquisition bid. And on the same day, as well as the next, December 24, DSP Blackrock sold shares of Satyam. Around a week later, on Dec 29 and 30, Deutsche Bank sold shares at a time when the scrip was bouncing back somewhat. Then on January 2, HDFC Mutual Fund offloaded shares. Satyam's price was still on its way up from the lows it had touched just a few weeks earlier, but several times the price it would be commanding just a week later. On January 5, two days before Raju's confession , ILFS Financial Services also opted out.