HENDERSONVILLE, TN / October 12, 2020/ The Law Offices of Timothy L. Miles, a national shareholder rights litigation firm who has been leading the fight to protect shareholder rights for over 19 years, announces the filing of a class-action lawsuit against (“HDFC Bank” or “the Company”) (NYSE:HDB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. The HDFC Bank class action lawsuit was commenced on September 3, 2020 in the Eastern District of New York and is captioned Arora v. HDFC Bank Limited, No. 20-cv-04140. The lawsuit seeks to recover investor losses under the federal securities laws.
Investors who purchased the Company’s securities between July 31, 2019 and July 10, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before November 2, 2020.
If you are a shareholder who suffered a loss, click here to participate.
HDFC Bank Accused of Misleading Shareholders
According to the Complaint, the Company made false and misleading statements to the market. HDFC Bank failed to maintain appropriate disclosure controls and internal controls on financial reporting. The Company engaged in improper lending practices in its vehicle financing business. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about HDFC Bank, investors suffered damages.
HDFC Bank Shareholders Urged to Contact the Firm
If you purchased HDFC Bank securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to firstname.lastname@example.org. If you inquire by email please include your mailing address, telephone number, and the number shares owned.
About Timothy L. Miles
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely awarded the recognition of American’s Most Honored Lawyers 2020 – Top 1% by the American Registry. Mr. Miles was also recently selected by Martindale-Hubbell® and ALM as a 2020 Top Ranked Lawyer and a 2020 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®,their highest rating for both legal ability and ethics. Mr. Miles is amember of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019-2020). Awards: Top Rated Litigator by Martindale-Hubbell® and ALM (2019); Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2018-2020); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).
SOURCE: The Law Offices of Timothy L. Miles