Former Satyam Chairman Arrested

Andhra Pradesh's chief minister wrote Thursday to Prime Minister Manmohan Singh asking him to appoint a management team that could restore confidence in the company and help protect its employees and investors.

Holders of the company's U.S.-listed shares -- which have been halted from trading on the New York Stock Exchange while regulators investigate -- have filed two class action suits against Satyam, the law firms representing the investors said in separate statements.

The suits filed by Vianale & Vianale LLP and Izard Noble LLP allege Satyam and its top executives issued false and misleading financial statements and violated federal securities laws, the statements on their Web sites said.