NEW ORLEANS, Aug. 20, 2026 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 13, 2026 to file lead plaintiff applications in a securities class action lawsuit against HDFC Bank Limited (“HDFC” or the “Company”) (NYSE: HDB), if they purchased HDFC securities between July 17, 2023 and May 26, 2026, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
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HDFC investors should visit us at https://claimsfiler.com/cases/nyse-hdb/ or call toll-free (833) 538-3601. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
HDFC and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 27, 2026, pre-market, The Indian Express reported that HDFC Bank had disguised crores of rupees as marketing expenditures in order to pay above-market interest rates to a state-owned enterprise. According to the article, the Company secretly funneled roughly Rs 45 crore (about $4.7 million) to the Maharashtra State Road Development Corporation ("MSRDC") to encourage MSRDC to place substantial deposits with the bank. HDFC Bank offered MSRDC a 6.01% interest rate — 2.51 percentage points above what it paid other depositors — and covered that premium by characterizing the payments as sponsorship of an MSRDC road safety awareness initiative. The article further reported that an internal investigation conducted in March and April 2026 found more than ten senior officials responsible for the scheme, including CEO Sashidhar Jagdishan.
On this news, the price of HDFC shares fell $1.02, or 4.1%, to close at $23.78 per share on May 27, 2026, on unusually heavy trading volume.
The case is Soneji v. HDFC Bank Limited, Case No. 26-cv-06943.
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