HDFC Bank Limited Securities Fraud Class Action Result of Deceptive Interest Payments and Approximately 4% Stock Decline - Investors may Contact Lewis Kahn, Esq, at Kahn Swick & Foti, LLC
Kahn Swick & Foti, a plaintiff securities firm, reminds investors with substantial losses that the lead plaintiff deadline in a securities class action against HDFC Bank (NYSE: HDB) is October 13, 2026. The suit, pending in the U.S. District Court for the Southern District of New York, alleges HDFC disguised roughly Rs 45 crore (about $4.7 million) as marketing expenditures to pay Maharashtra State Road Development Corporation a 6.01% deposit rate, 2.51 percentage points above what it paid other depositors.
Key figures
- Case number
- 26-cv-06943 (S.D.N.Y.)
- Class period
- July 17, 2023 - May 26, 2026
- Share price drop
- $1.02, or 4.1%, to close at $23.78 on May 27, 2026
- Disguised payment
- roughly Rs 45 crore (about $4.7 million)
- Msrdc interest rate
- 6.01%
- Lead plaintiff deadline
- October 13, 2026
- Premium vs other depositors
- 2.51 percentage points
AI analysis
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