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SHAREHOLDER WARNING: Regulation agency Pomerantz is reminding shareholders of losses on their funding in HDFC Financial institution Restricted over class motion and upcoming deadline – HDB – Yahoo Finance

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "NEW YORK, September 06, 2020 (GLOBE NEWSWIRE) – Pomerantz LLP announces that a class action lawsuit has been filed against HDFC Bank Limited (“HDFC or the“ Company ”) (NYSE: HDB) and some of its officers in the US District Court in the Eastern District of New York, which is registered under 20-cv-04140 belongs to a class that consists of all persons except defendants who bought or otherwise acquired HDFC Bank securities between July 31, 2019 and July 10, 2020. both dates included ( the “Class Period”) to seek damages caused by Defendants violating federal securities laws and seek remedial action under Sections 10 (b) and 20 (a) of the Securities Exchange Act of 1934 (the “Class” ). Exchange Act ") and Rule 10b-5, which are under n this agreement were enacted against the bank and some of its top officials.
"data-reactid =" 12 "> NEW YORK, September 06, 2020 (GLOBE NEWSWIRE) – Pomerantz LLP announces that a class action lawsuit has been filed against HDFC Bank Limited (" HDFC or the "Company") (NYSE:). HDB) and some of its officials. The class action suit, filed in the US District Court for the Eastern District of New York and filed under 20-cv-04140, is on behalf of a class composed of all persons except the defendants, who purchased or otherwise acquired HDFC Bank – Securities between July 31, 2019 and July 10, 2020, both dates inclusive (the "Class Period"), to seek damages caused by Defendants violating federal securities laws and to take remedial action under the Sections enact 10 (b) and 20 (a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and rule 10b-5 therein against the bank and some of its chief officers.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "If you are a shareholder who bought HDFC securities while During class time, you have until November 2, 2020 to ask the court to appoint you as the lead plaintiff for the class. A copy of the complaint is available at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 7980. Those who inquire by email are asked to provide their postal address, telephone number, and the number of shares purchased. "data-reactid =" 13 "> If you are a shareholder who purchased HDFC securities during the class period, you have until November 2, 2020 to ask the court to appoint you as the lead plaintiff for the class To obtain a copy of the complaint, visit www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW) toll free, ext. 7980. In the case of e-mail it is recommended to provide the postal address, telephone number and the number of shares purchased.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "(Click here for information on how to participate in the class action.)"data-reactid =" 14 ">(Click here for information on how to participate in the class action.)

HDFC Bank was founded in 1994 and is based in Mumbai, India. The bank provides a variety of banking and financial services to individuals and companies in India, Bahrain, Hong Kong and Dubai.

HDFC Bank operates in the Treasury, Retail Banking, Wholesale Banking, Other Banking Business and Unallocated segments and offers various types of credit, including personal and vehicle finance, to millions of its private customers.

HDFC Bank’s auto and commercial vehicle loan revenues are reported as part of the bank’s retail banking segment.

The complaint alleges that throughout the classroom, defendants made materially false and misleading statements about the bank's business, operational and compliance policies. In particular, Defendants made false and / or misleading statements and / or failed to disclose that: (i) HDFC Bank had inadequate disclosure controls and procedures and internal controls over financial reporting; (ii) As a result, the Bank maintained improper lending practices in its vehicle financing operations. (iii) Accordingly, the Bank's vehicle finance revenues were unsustainable. (iv) All of the above are expected to have a material adverse impact on the Bank's financial condition and reputation, if disclosed. and (v) as a result, the Bank's public statements at all relevant times have been materially false and misleading.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "On July 13, 2020 during the pre-market hours, The economic times published an article entitled "HDFC Bank Examines Vehicle Unit Lending Practices". This article reported that HDFC Bank was "conducting an investigation into allegations of inadequate lending practices and conflicts of interest in its vehicle financing operations, in which the former head of the unit was involved." "Data-reactid =" 23 "> On July 13, 2020 during Before Launch, the Economic Times published an article entitled" HDFC Bank is reviewing lending practices in the vehicle unit ". This article reported that HDFC Bank" conducted an investigation into allegations of improper lending practices and conflicts of interest in their vehicle finance operations in which the former head of the unit was involved ".

On the news, HDFC Bank's American Depositary Share (“ADS”) fell $ 1.37 per share, or 2.83%, to close at $ 47.02 per share on July 13, 2020.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The company Pomerantz with offices in New York, Chicago, Los Angeles and Paris are recognized as a premier corporate, securities and antitrust litigation firm. Founded by the late Abraham L. Pomerantz, best known as the dean of class action, the Pomerantz Firm Today, more than 80 years later, Pomerantz continues Continuing its tradition of fighting for the rights of victims of securities fraud, fiduciary violations, and corporate misconduct, the company has recovered from numerous millions of dollars in damages paid on behalf of class members www.pomerantzlaw.com. "data-reactid =" 25 "> The Pomerantz company with offices in New York, Chicago, Los Angeles and Paris is one of the leading companies in the fields of corporate, securities and antitrust disputes. Founded by the late Abraham L. Pomerantz, Known as the dean of the class action lawsuit, pioneer of the Pomerantz Company, today, more than 80 years later, the Pomerantz Company continues its tradition of fighting for the rights of victims of securities fraud, fiduciary violations and corporate misconduct has filed numerous multi-million dollar claims for damages on behalf of class members, see www.pomerantzlaw.com.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com"data-reactid =" 26 "> CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

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