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Dr. Reddy's Laboratories Limited

Securities Class Action

Overview
  • Date:
  • 10/11/2017
  • Company Name:
  • Dr. Reddy's Laboratories Limited
  • Stock Symbol:
  • RDY
  • Class Period:
  • FROM 6/17/2015 TO 8/10/2017
  • Status:
  • Closed/Complete
  • Court:
  • U.S. Bankruptcy Court: District of New Jersey

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NEW YORK, October 11, 2017 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired Dr. Reddy's Laboratories Limited (NYSE: RDY) securities between June 17, 2015 and August 10, 2017 (the “Class Period”).  Investors have until October 24, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The complaint alleges that, throughout the class period Defendants issued 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.

If you purchased or otherwise acquired Dr. Reddy's securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.

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