LOS ANGELES–(BUSINESS WIRE)–$HDB #HDB—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of HDFC Bank Limited (“HDFC Bank” or “the Company”) (NYSE: HDB) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The Economic Times reported on July 13, 2020, that HDFC Bank “conducted a probe into allegations of improper lending practices and conflicts of interests in its vehicle-financing operations involving the unit’s former head.” Then on July 19, 2020, the Company reported its financial results for the first quarter of 2021, missing net profit estimates. The Print reported on August 6, 2020, that Experian had informed the Reserve Bank of India that “HDFC Bank has been late in providing details of its loans, including the repayment status of its millions of retail borrowers” and that “[s]uch tardiness has been an issue for about two years.”
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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