PR Newswire | Oct 12, 2020 11:32AM EDT

of Important Deadline in Securities Class Action - HDB

10/12 10:32 CDT

ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Reminds HDFC Bank Limited Investors of Important Deadline in Securities Class Action - HDB NEW YORK, Oct. 12, 2020

NEW YORK, Oct. 12, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of HDFC Bank Limited (NYSE: HDB) between July 31, 2019 and July 10, 2020, inclusive (the "Class Period"), of the important November 2, 2020 lead plaintiff deadline in securities class action. The lawsuit seeks to recover damages for HDFC Bank investors under the federal securities laws.

To join the HDFC Bank class action, go to http://www.rosenlegal.com/cases-register-1922.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose to investors that: (1) HDFC Bank had inadequate disclosure controls and procedures and internal control over financial reporting; (2) as a result, HDFC Bank maintained improper lending practices in its vehicle-financing operations; (3) accordingly, earnings generated from HDFC Bank's vehicle-financing operations were unsustainable; (4) all the foregoing, once revealed, was foreseeably likely to have a material negative impact on HDFC Bank's financial condition and reputation; and (5) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 2, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1922.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th FloorNew York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827lrosen@rosenlegal.compkim@rosenlegal.comcases@rosenlegal.comwww.rosenlegal.com

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SOURCE Rosen Law Firm, P.A.