A lawsuit was filed on behalf of investors in Dr.Reddy’s Laboratories Ltd (ADR) (NYSE:RDY) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/11/2017 -- An investor in shares of Dr.Reddy's Laboratories Ltd (ADR) (NYSE:RDY) filed a lawsuit over alleged Securities Laws violations by Dr.Reddy's Laboratories Ltd.
Investors who purchased shares of Dr.Reddy's Laboratories Ltd (ADR) (NYSE:RDY) have certain options and for certain investors are short and strict deadlines running. Deadline: October 24, 2017. NYSE:RDY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff claims that between June 17, 2015 and August 10, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Dr. Reddy's lacked an effective corporate quality system, and that 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.
India based Dr. Reddy's Laboratories Limited is a pharmaceutical company that is engaged in providing medicines. Shares of Dr.Reddy's Laboratories Ltd (ADR) (NYSE:RDY) reached as high as $67.26 per share in August 2015.
On November 6, 2015, Dr.Reddy's Laboratories Ltd's announced that it had received a warning letter issued by the U.S. Food and Drug Administration ("FDA") concerning inadequate quality control standards at three of the Company's manufacturing plants in India.
On August 10, 2017, Dr.Reddy's Laboratories Ltd's disclosed that the Regulatory of Germany (Regierung von Oberbayern) did not renew the good manufacturing practices (GMP) compliance certificate of a formulations manufacturing unit of the Company's German subsidiary Betapharm Arzneimittel, located in Hyderabad, India, following a recent inspection of the plant.
Those who purchased shares of Dr.Reddy's Laboratories Ltd (ADR) (NYSE:RDY) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com