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Aegis' acquisition under law firm's lens
By siliconindia
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Thursday, 14 August 2008, 00:53 IST
Mumbai: The Essar Group Aegis' acquisition of PeopleSupport, is under the lens of the U.S. based law firm Levi & Korsinsky, for a complaint lodged by a client, who is a PeopleSupport's shareholder. The firm is supposed to pay $12.25 a share in cash as per the agreement of acquisition.
According to Juan E Monteverde, Associate, Levi & Korsinsky, "After our investigation, if we find any fraud, we will take up the issue before the court. At this point of time, we can not disclose the name of the client." This legal firm takes up investigations on securities fraud, mutual fund abuse and consumer fraud. However, onlookers have a different take on it, who regard these clients to be some dissatisfied shareholder in the transactions. With this being common phenomena in the U.S. the final outcome will not take much toll. Moreover, Aegis' employees, however, refused to comment on it.
Los Angeles headquartered PeopleSupport is a provider of outsourced customer management, transcription and captioning, accounts receivable management and additional back-office services.
