The Indian software-service provider has requested District Judge Barbara Jones in New York that it may be allowed to replace Wachtell Lipton Rosen & Katz by Jones Day.
The reasons for the switch are not immediately known but Wachtell partner Warren Stern and Satyam Executive Vice Chairman Vineet Nayyar have mutually agreed to the counsel substitution.
The company was hit by an accounting fraud early this year after its founder B Ramalinga Raju admitted to financial irregularities involving thousands of crores of rupees. Investors in India and the US filed several lawsuits in what has turned out to be one of India’s most biggest corporate fraud cases.
These cases in the US have been consolidated into one complaint in a Manhattan-based federal court. Satyam is expected to respond by mid-October.
After the scam came to light, Satyam shares plummeted both in India and the US. The company was later acquired by Tech Mahindra, thriugh a government-arranged auction.
