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Kirby McInerney LLP Alerts Investors Who Acquired HDFC Bank Limited HDB Securities Between July 17, 2023 and May 26, 2026 of Pending Lawsuit
GlobeNewswire Inc.·
A securities class action lawsuit has been filed against HDFC Bank Limited for allegedly making materially false statements and failing to disclose that the company camouflaged payments as marketing spend to pay higher interest rates to a state firm to induce deposits. The scheme was allegedly approved by senior management and likely violated regulations. The lawsuit covers investors who purchased securities between July 17, 2023 and May 26, 2026. The allegations emerged following the resignation of the bank's Chairman in March 2026 and a May 2026 media report detailing approximately $4.7 million in covert payments to Maharashtra State Road Development Corporation.
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