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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Dr. Reddy's Laboratories Ltd. (NYSE:RDY) who purchased shares between June 17, 2015 and August 10, 2017. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
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In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) Dr. Reddy's lacked an effective corporate quality system; and (2) as a result, defendants' public statements were materially false and misleading at all relevant times.
On November 6, 2015, Dr. Reddy's announced that it had received a warning letter issued by the U.S. Food and Drug Administration concerning inadequate quality control standards at three of Dr. Reddy's manufacturing plants in India. Then on August 10, 2017, Dr. Reddy's disclosed that the Regierung von Oberbayern (the district government of Upper Bavaria) did not renew the good manufacturing practices compliance certificate of a manufacturing unit of Dr. Reddy's German subsidiary Betapharm Arzneimittel, located in India.
Shareholders have until October 24, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sb/dr-reddys-laboratories-ltd?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170913006199/en/
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.