{"id":15750,"date":"2020-08-17T23:07:21","date_gmt":"2020-08-17T23:07:21","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=15750"},"modified":"2020-08-17T23:07:21","modified_gmt":"2020-08-17T23:07:21","slug":"us-law-firm-to-investigate-hdfc-banks-securities-claims-on-behalf-of-investors","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=15750","title":{"rendered":"US law firm to investigate HDFC Bank\u2019s securities claims on behalf of investors"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2058042\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/08\/1-607.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2058042\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/08\/1-607.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2058042\" src=\"https:\/\/images.financialexpress.com\/2020\/08\/1-607.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/08\/1-607.jpg 660w, https:\/\/images.financialexpress.com\/2020\/08\/1-607-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/08\/1-607-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/08\/1-607-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/08\/1-607-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/08\/1-607-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/08\/1-607-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\"><a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/hdfc-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">HDFC Bank<\/a> said that it was unaware of the development till media outlets reached out to it for a response on the matter.<\/span><\/figure>\n<\/div>\n<p>US-based Rosen Law Firm said late on Sunday night that it will launch an investigation of potential securities claims on behalf of shareholders of HDFC Bank.<\/p>\n<p>The firm cited media reports about the bank\u2019s probe into malpractices at its vehicle-financing arm, its financial underperformance in Q1FY21 and delayed reporting to a credit bureau.<\/p>\n<p>\u201cRosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of HDFC Bank resulting from allegations that HDFC Bank may have issued materially misleading business information to the investing public,\u201d the firm said on its website.<\/p>\n<p>Rosen invited the bank\u2019s shareholders to join a securities lawsuit it is preparing against the bank.<\/p>\n<p>Reports of the bank\u2019s Q1 performance led to its American depositary receipt price falling $1.37 per share, or 2.83%, to close at $47.02 per share on July 13, 2020, Rosen said.<\/p>\n<p>HDFC Bank said that it was unaware of the development till media outlets reached out to it for a response on the matter.<\/p>\n<p>\u201cWe are getting details of it. We\u2019ll examine it and respond to it as appropriate. Prima facie it does look frivolous as we believe we have been transparent in our disclosures,\u201d the bank said on its official Twitter handle.<\/p>\n<p>There have been multiple reports about malpractices by HDFC Bank in the last few months, including one about the lender forcibly selling GPS devices to its auto-loan customers.<\/p>\n<p>The bank has consistently said that it carried out a probe into allegations of misdemeanours at its auto-loan division and took appropriate disciplinary action.<br \/>Ashok Khanna, who headed the auto-loan division and participated in the enquiry, retired on March 31 on expiry of his tenure, as per the original terms of employment, the bank\u2019s outgoing managing director Aditya Puri said last month.<\/p>\n<p>On Monday, HDFC Bank\u2019s shares ended almost flat on the BSE at Rs 1,033.55.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/us-law-firm-to-investigate-hdfc-banks-securities-claims-on-behalf-of-investors\/2058040\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HDFC Bank said that it was unaware of the development till media outlets reached out to it for a response on the matter. US-based Rosen Law Firm said late on Sunday night that it will launch an investigation of potential securities claims on behalf of shareholders of HDFC Bank. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15751,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-15750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/08\/1-607.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15750"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/15751"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}