ClaimsFiler says Oct. 13 is lead-plaintiff deadline in HDFC Bank securities case
ClaimsFiler said HDFC Bank investors have until Oct. 13, 2026, to apply for lead-plaintiff status in a securities class action in New York.
ClaimsFiler said investors in HDFC Bank Limited have until Oct. 13, 2026, to apply for lead-plaintiff status in a securities class action pending in the U.S. District Court for the Southern District of New York.
The notice said the case covers investors who bought HDFC securities between July 17, 2023, and May 26, 2026, and is captioned Soneji v. HDFC Bank Limited, Case No. 26-cv-06943.
According to the alert, the claims stem from a May 27, 2026, pre-market report by The Indian Express that said HDFC Bank had disguised crores of rupees as marketing expenditures to pay above-market interest rates to the Maharashtra State Road Development Corporation, or MSRDC. The notice said the report put the amount at roughly Rs 45 crore, or about $4.7 million, and said the bank offered MSRDC a 6.01% interest rate, which was 2.51 percentage points above what it paid other depositors.
The notice said the premium was covered by characterizing the payments as sponsorship of a road safety awareness initiative. It also said an internal investigation in March and April 2026 found more than ten senior officials responsible, including CEO Sashidhar Jagdishan.
ClaimsFiler described itself as a free shareholder information service. The notice said HDFC shares fell $1.02, or 4.1%, to close at $23.78 on May 27, 2026, on unusually heavy volume after the report.
Kahn Swick & Foti, LLC was identified in the notice as a firm available to discuss legal options for investors.
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Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.
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