Hagens Berman says it is notifying HDFC Bank investors about securities fraud suit

By Atlas Watchline Staff · Legal · August 18, 2026

Hagens Berman said it is notifying investors in HDFC Bank Limited about a pending securities fraud class action tied to alleged disclosure failures, with a lead-plaintiff deadline set for Oct. 13, 2026.

Hagens Berman said it is notifying investors in HDFC Bank Limited about a pending securities fraud class action that names Chief Executive Officer Sashidhar Jagdishan and Chief Financial Officer Srinivasan Vaidyanathan.

The firm said the suit concerns alleged violations of federal securities laws and claims the bank failed to disclose material adverse facts about business operations, financial accounting and regulatory compliance. The notice said the alleged scheme emerged in stages and that HDFC American Depositary Shares saw sharp drops in market value.

The notice says people who bought or acquired HDFC securities during the class period, from July 17, 2023, through May 26, 2026, may seek to serve as lead plaintiff if they suffered significant losses. The deadline listed in the release is Oct. 13, 2026.

In the notice, Hagens Berman partner Reed Kathrein said the firm is focused on whether senior leadership concealed a covert scheme to funnel millions in disguised payments to induce state-firm deposits while publicly presenting strong governance and compliance. That allegation appears in the complaint as described by the firm.

The release also said Hagens Berman is offering investors contact options through its website, by phone and by email. It noted the SEC Whistleblower program and said people with original information may be eligible for awards of up to 30% of a successful SEC recovery.

Hagens Berman described itself in the release as a global plaintiffs’ rights complex litigation firm and said it has secured more than $2.9 billion in this area of law.

The release did not include a response from HDFC Bank.

Sources

• PR Newswire release

Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.

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