Press release
Investigation announced for Long-Term Investors in NYSE: HDB shares over possible Wrongdoing at HDFC Bank Limited
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of HDFC Bank Limited.Investors who are current long term investors in HDFC Bank Limited (NYSE: HDB) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: HDB stocks follows a lawsuit filed against HDFC Bank Limited over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: HDB stocks, concerns whether certain HDFC Bank directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that, the defendants made false and/or misleading statements and/or failed to disclose that HDFC Bank had inadequate disclosure controls and procedures and internal control over financial reporting, that as a result, the Bank maintained improper lending practices in its vehicle-financing operations, that accordingly, earnings generated from the Bank's vehicle-financing operations were unsustainable, that all the foregoing, once revealed, was foreseeably likely to have a material negative impact on the Bank's financial condition and reputation, and that as a result, the Bank's public statements were materially false and misleading at all relevant times.
Those who purchased shares of HDFC Bank Limited (NYSE: HDB) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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