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On its second quarter of fiscal 2027 earnings call, held on Oct. 17, 2026, HDFC Bank (HDB +1.32%) announced that its operational efficiency and lending momentum are accelerating across core retail and commercial segments.

Expanding frontline capacity through digital tools enables India's largest private bank to serve more customers per branch. Higher-yielding retail loans and an upward shift in the interest rate cycle support long-term expansion in interest income. Three takeaways from management's call stand out for long-term investors.

1. Automated Workflows Boost Frontline ProductivityThe bank is expanding digital adoption and straight-through processing, which automates loan processing without manual intervention, to reduce turnaround times (TATs), or the total time required to fulfill customer requests. Shorter processing cycles allow branch employees to handle higher transaction volumes and conduct more client interactions each day.

The turnaround times on product deliveries have come down anywhere between 10% and 15% in a short span of time, while service delivery TATs have come down by 30% during the quarter, which means the frontline can touch more customers within the same work hours.
-- Sashidhar Jagdishan, Chief Executive Officer2. Net Interest Margins Near an Upward Turning PointA turning interest rate environment and floating-rate loan repricing are positioning net interest margin (NIM), which measures the gap between interest earned on assets and interest paid on deposits, for a structural recovery. Management expects profitability metrics to improve as borrowing costs stabilize and higher-yielding assets reprice.

The trajectory will be upward from the next quarter onwards.
-- Sashidhar Jagdishan, Chief Executive Officer3. Retail Lending Accelerates Across Key CategoriesDisbursements across consumer loan categories, including vehicle financing and personal lending, are rising as branch productivity improves. Expanding retail credit increases exposure to higher-margin assets relative to wholesale corporate lending, enhancing overall balance sheet yields.

The pace of retail disbursements is accelerating and has crossed INR 90,000 crores during Q2 FY '27 as against INR 76,000 crores in Q1 of this year.
-- Sashidhar Jagdishan, Chief Executive OfficerLooking AheadBranch distribution expansion, deep customer relationships, and core technology investments give the bank structural scale advantages in Indian financial services. Incoming executive leadership is prioritizing capital discipline, digital infrastructure, and risk governance to drive compounding returns.

The clear long-term goal is to deliver sustainable long-term value for shareholders, employees and clients.
-- Anup Bagchi, Managing Director and Chief Executive OfficerOperational efficiency and artificial intelligence adoption provide clear runways for profitable growth across commercial and retail segments.

As macroeconomic dynamics evolve and AI technology and digital infrastructures accelerate, we'll focus on capturing these opportunities with prudence and discipline.
-- Anup Bagchi, Managing Director and Chief Executive OfficerThe Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Modi Momentum: Finding Stability in India’s Goldilocks EconomyHDFC Bank NYSE: HDB said its deposit and loan growth accelerated in the second quarter of fiscal 2027, while management indicated that net interest margins may begin improving from the next quarter as loan repricing catches up with funding costs.

Chief Executive Officer Sashi Jagdishan said the economic backdrop remained supportive, citing stronger-than-anticipated first-quarter GDP growth, industrial production, e-way bills, cargo activity and credit growth. He also pointed to retail-consumption indicators, including passenger-vehicle and two-wheeler sales growth of more than 30% and consumer durables growth of about 11% year over year.

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The call also marked a leadership transition. Jagdishan said his tenure at the bank was ending and welcomed Anup Bagchi as the new Managing Director and CEO. Later in the call, the bank disclosed that Deputy Managing Director Kaizad Bharucha had requested early retirement effective at the end of December.

Deposit Growth and Retail Momentum
Reported deposits rose 18.8% year over year, including a roughly 4-percentage-point benefit from the Reserve Bank of India’s special FCNR swap window, Jagdishan said. CASA deposits grew 10.8%, while retail CASA increased 11.2%, compared with 9% growth a year earlier.

The bank added approximately 1.7 million liability relationships during the quarter, up 25% from the prior quarter and 33% from the fourth quarter of the prior fiscal year. Jagdishan said investments in distribution, digital journeys and customer engagement should support further growth, though certain large and unusual deposit outflows during the quarter masked underlying momentum.

He said the bank’s retail CASA ratio was in the “late 40s” and had remained relatively stable over time. However, he acknowledged broader structural pressure on low-cost deposit growth as household savings behavior changes and as the bank replaces former HDFC Ltd. borrowing maturities with deposits.

Chief Financial Officer Srinivasan Vaidyanathan said the bank’s liquidity coverage ratio stood at approximately 113%, within management’s desired operating range of 110% to 120%. He said HDFC Bank intends to operate closer to the middle of that range while continuing to grow. Management also said that, despite the LCR level, the bank’s overall liquidity was “extremely comfortable.”

Loans, Asset Quality and Operating Improvements
Total assets under management increased 15.3% year over year, including a 1.9% impact from FCNR leverage. Retail and small and medium enterprise lending led growth. Retail disbursements exceeded INR 90,000 crore during the quarter, up from INR 76,000 crore in the first quarter.

Retail assets excluding agriculture grew 11.2% as of September 2026, compared with 9.1% in June and 7.4% in March. New credit-card issuance reached 1.4 million, an increase of nearly 19% from the preceding quarter.

Growth in MSME and mid-market lending also strengthened. End-of-period loans in the segment increased 23.5% year over year, aided in part by the Emergency Credit Line Guarantee Scheme 5.0. HDFC Bank said it disbursed INR 41,000 crore under the program, the highest amount among banks.

Management attributed the acceleration to tighter daily operating processes across frontline, credit, operations and service teams, as well as higher digital adoption and straight-through processing. Product-delivery turnaround times declined by 10% to 15%, while service turnaround times fell 30%. Customer visits per employee per day increased by about 50% from the previous quarter, Jagdishan said.

Asset quality remained stable. Gross nonperforming assets were 1.11%, down 13 basis points year over year, while credit costs were 44 basis points. Vaidyanathan said lower slippages reflected improvement across most lending portfolios rather than simply a change in the loan mix. Bharucha added that agricultural gross NPAs remained broadly steady through September despite a weaker and uneven monsoon.

Margins Expected to Improve
Net interest margin was 3.32% during the quarter. Vaidyanathan said the cost of funds remained flat sequentially at about 4.4%, rather than declining, because growth in higher-cost time deposits—particularly FCNR deposits—offset repricing benefits elsewhere in the funding base.

About 70% of the loan book is floating rate, management said. Following a 25-basis-point rate increase in October, the bank expects much of the benefit from loan repricing to be reflected by December. While the full-quarter impact of FCNR deposits will offset some of that benefit, executives said the margin outlook was neutral to positive and characterized the second quarter as the likely bottom of the margin cycle.

Bharucha said the bank expects continued growth in retail and MSME lending, while maintaining its presence in corporate banking. He said management would pursue a calibrated mix rather than shifting portfolios solely to capture modest differences in yield. Vaidyanathan added that returns on assets across wholesale and retail operations were broadly comparable once operating and credit costs were considered.

Technology, Strategy and Leadership
Jagdishan said HDFC Bank is increasing the use of artificial intelligence in customer service, collections and fraud prevention. Recent launches included Edge Security, a unified customer-protection stack, along with Kavach and Secure Lock tools. The bank also introduced AI-enabled conversational banking and collections capabilities.

Bagchi said he plans to engage with regulators, customers, shareholders and other stakeholders before presenting a detailed perspective on growth, margins, quality and productivity. He said the bank would focus on disciplined capital deployment, execution, governance and trust as digital infrastructure and AI create new opportunities.

On staffing, management said technology and automation should enable a greater share of employees to move into customer-facing roles, while reducing the need for growth in back-end functions. Bagchi said the bank’s headcount has grown at roughly a 10% compound annual rate over a longer period, while business volumes have risen at high-teen rates, creating productivity gains.

About HDFC Bank (NYSE:HDB)HDFC Bank Limited is a financial services company headquartered in Mumbai, India. Established in 1994, it operates as a private-sector commercial bank serving individuals, businesses, institutions and government-related entities.

The bank offers a broad range of products and services, including savings and current accounts, fixed deposits, personal and home loans, vehicle and business financing, credit and debit cards, payments, remittances, investment products and insurance distribution.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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NEW YORK--(BUSINESS WIRE)-- #ClassAction--Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against HDFC Bank Limited (“HDFC Bank Limited” or the “Company”) (NYSE: HDB) and reminds investors of the October 13, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. T.

New York, New York--(Newsfile Corp. - October 12, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of HDFC Bank Limited (NYSE: HDB) between July 17, 2023 to May 26, 2026, inclusive (the "Class Period"), of the important October 13, 2026 lead plaintiff deadline.

SO WHAT: If you purchased HDFC Bank securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the HDFC Bank class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and HDFC Bank's own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, HDFC Bank's interest income and operating expenses were overstated; and (5) as a result of the foregoing, defendants' positive statements about HDFC Bank's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the HDFC class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318578

Source: The Rosen Law Firm PA

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HDB Investors Have Opportunity to Lead HDFC Bank Limited Securities Fraud Lawsuit with SBS Law
Schall, Brown & Schwartz LLP (“SBS”), a national shareholder rights litigation firm, reminds investors of a class action lawsuit against HDFC Bank Limited (“HDFC” or “the Company”) (NYSE: HDB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Shareholders who purchased shares of HDB during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.

CLASS PERIOD: July 17, 2023 to May 26, 2026

DEADLINE: October 12, 2026

If you are a shareholder who suffered a loss, click here to participate.

CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. HDFC disguised payments as marketing costs to hide higher interest for state-controlled firms. Senior management was aware of these activities and approved them even thought they likely violated policies and regulations. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about HDFC, investors suffered damages.

We also encourage you to contact Brian Schall or David Schwartz of Schall, Brown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

Join the case to recover your losses

WHY SBS? Schall, Brown & Schwartz LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Bringing together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz, SBS is dedicated to aggressively advocating for every investor.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261012578548/en/

Disclosures
I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

Click for the complete disclosure

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LOS ANGELES--(BUSINESS WIRE)--The DJS Law Group reminds investors of a class action lawsuit against HDFC Bank Limited (“HDFC Bank” or “the Company”) (NYSE: HDB) violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Shareholders who purchased shares of HDFC during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.

CLASS PERIOD: July 17, 2023 to May 26, 2026

DEADLINE: October 12, 2026

CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. HDFC Bank disguised interest payments to certain accounts as marketing expenses with the knowledge of senior management. Based on these facts, HDFC Bank’s public statements were false and materially misleading throughout the class period.

If you are a shareholder who suffered a loss, contact us to participate.

WHY DJS LAW GROUP? DJS Law Group’s primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.

Join the case to recover your losses.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

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LOS ANGELES--(BUSINESS WIRE)---- $HDB--HDB Investors Have Opportunity to Lead HDFC Bank Limited Securities Fraud Lawsuit with SBS Law.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In HDFC Bank Limited To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in HDFC Bank Limited between July 17, 2023 and May 26, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - October 11, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against HDFC Bank Limited (""HDFC Bank Limited" or the "Company") (NYSE: HDB) and reminds investors of the October 13, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and the Company's own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, the Company's interest income and operating expenses were overstated; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On March 18, 2026, HDFC filed a letter with the Bombay Stock Exchange and the National Stock Exchange of India Limited, reporting the resignation of Mr. Atanu Chakraborty from his roles as part-time Chairman and Independent Director of HDFC, with his resignation letter stating that "[c]ertain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal Values and Ethics." On this news, the price of HDFC's American Depositary Shares ("ADS") fell $2.09, or 7.28% to close at $26.62 per share on March 18, 2026, on unusually heavy trading volume.

On May 27, 2026, The Indian Express published an article entitled "HDFC Bank 'camouflaged' crores as marketing spend to pay higher interest to state firm," reporting that HDFC Bank had made covert payments of approximately "Rs 45 crore," or approximately $4.7 million USD, to the Maharashtra State Road Development Corporation ("MSRDC") to induce MSRDC to make large deposits with the Company, with the differential interest disguised as sponsorship payments, and that an internal probe concluded that over ten top officials bore responsibility, including HDFC's CEO Sashidhar Jagdishan. On this news, HDFC's ADS price fell $1.02, or 4.1%, to close at $23.78 per share on May 27, 2026, on unusually heavy trading volume.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding HDFC Bank Limited's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the HDFC Bank Limited class action, go to www.faruqilaw.com/HDB or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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Frequently Asked Questions (FAQ) for Investors Regarding the HDFC Bank Limited Securities Class Action Lawsuit:

What is the HDFC Bank Limited securities fraud lawsuit about?

The lawsuit alleges that HDFC Bank Limited engaged in a scheme to disguise payments as marketing expenditures in order to pay above-market interest rates to a state-owned entity, the Maharashtra State Road Development Corporation, to induce that entity to make large deposits with the bank. The complaint further alleges that these activities were approved by senior management, including HDFC Bank's CEO, and that they likely violated applicable regulations as well as the Company's own internal policies prohibiting improper inducements. As a result of this alleged conduct, the lawsuit contends that HDFC Bank's reported interest income and operating expenses were materially misstated. Defendants' positive public statements about the Company's business, operations, and prospects were allegedly materially misleading and lacked a reasonable basis during the Class Period. The case centers on two disclosure events - a chairman's resignation citing ethical concerns in March 2026, and a May 2026 investigative report - which allegedly caused significant declines in the price of HDFC Bank's American Depositary Shares.

Who may be eligible to participate in the lawsuit?

Investors who purchased or otherwise acquired HDFC Bank Limited American Depositary Shares traded on the NYSE under the ticker symbol HDB between July 17, 2023 and May 26, 2026, inclusive, may be eligible to participate in this securities class action lawsuit. The class period encompasses the full timeframe during which Defendants allegedly made materially misleading statements about the Company's business, operations, and financial results. Eligibility to participate in any potential recovery is not limited to those who apply to serve as lead plaintiff; class members who take no active role in the litigation may still share in any recovery that is obtained. Investors are encouraged to review their trading records for the relevant period to determine whether they purchased shares during the Class Period.

What is a lead plaintiff, and how can I seek appointment?

A lead plaintiff is a court-appointed representative who acts on behalf of all class members in directing the litigation, including making key decisions about litigation strategy and the selection of lead counsel. Any class member who suffered a loss on purchases of HDFC Bank ADS during the Class Period may move the court for appointment as lead plaintiff, and the court will typically appoint the movant with the largest financial interest who otherwise satisfies the requirements of applicable law. The deadline to file a motion for appointment as lead plaintiff is [deadline], and investors wishing to seek this role must act before that date. Importantly, investors are not required to seek appointment as lead plaintiff in order to be eligible to participate in any class recovery - the vast majority of class members recover without taking on this role.

Why should investors contact Faruqi & Faruqi, LLP?

Faruqi & Faruqi, LLP has represented investors in securities litigation for decades and has recovered hundreds of millions of dollars for shareholders. Investors who purchased HDFC Bank Limited securities during the Class Period may contact the firm to discuss their legal rights, potential claims, and the lead plaintiff process at no cost or obligation.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318352

Source: Faruqi & Faruqi LLP

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, /PRNewswire/ -- 

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of HDFC Bank Limited (NYSE: HDB) between July 17, 2023 to May 26, 2026, inclusive (the "Class Period"), of the important October 13, 2026 lead plaintiff deadline.

So What: If you purchased HDFC Bank securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the HDFC Bank class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and HDFC Bank's own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, HDFC Bank's interest income and operating expenses were overstated; and (5) as a result of the foregoing, defendants' positive statements about HDFC Bank's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the HDFC class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

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NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 13, 2026 to file lead plaintiff applications in a securities class action lawsuit against HDFC Bank Limited (“HDFC” or the “Company”) (NYSE: HDB), if they purchased or otherwise acquired the Company’s securities between July 17, 2023 and May 26, 2026, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased securities of HDFC as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-833-538-3615 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-hdb/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by October 13, 2026.

About the Lawsuit

HDFC and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On May 27, 2026, pre-market, The Indian Express reported that HDFC Bank had disguised crores of rupees as marketing expenditures in order to pay above-market interest rates to a state-owned enterprise. According to the article, the Company secretly funneled roughly Rs 45 crore (about $4.7 million) to the Maharashtra State Road Development Corporation ("MSRDC") to encourage MSRDC to place substantial deposits with the bank. HDFC Bank offered MSRDC a 6.01% interest rate — 2.51 percentage points above what it paid other depositors — and covered that premium by characterizing the payments as sponsorship of an MSRDC road safety awareness initiative. The article further reported that an internal investigation conducted in March and April 2026 found more than ten senior officials responsible for the scheme, including CEO Sashidhar Jagdishan.

On this news, the price of HDFC shares fell $1.02, or 4.1%, to close at $23.78 per share on May 27, 2026, on unusually heavy trading volume.

The case is Soneji v. HDFC Bank Limited, Case No. 26-cv-06943.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

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New York, New York--(Newsfile Corp. - October 9, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against HDFC Bank Limited ("HDFC Bank" or the "Company") (NYSE: HDB) on behalf of investors that purchased or otherwise acquired HDFC Bank securities, including American Depositary Shares ("ADS"), between July 17, 2023 and May 26, 2026 (the "Class Period").

CLICK HERE TO JOIN THE CASE

If you are an investor in HDFC Bank and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.

DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than October 13, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.

The complaint alleges that on May 27, 2026, The Indian Express published an article entitled "HDFC Bank 'camouflaged' crores as marketing spend to pay higher interest to state firm." The article reported that HDFC Bank had made covert payments of approximately "Rs 45 crore," or approximately $4.7 million USD, to the Maharashtra State Road Development Corporation ("MSRDC") to induce MSRDC to make large deposits with the Company. Reportedly, an internal probe in March and April 2026 flagged these payments and concluded that over ten top officials bore responsibility, including HDFC's CEO Sashidhar Jagdishan.

The complaint alleges, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and HDFC Bank's own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, HDFC Bank's interest income and operating expenses were overstated; and (5) as a result of the foregoing, defendants' positive statements about HDFC Bank's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Further, the complaint alleges HDFC Bank's securities traded at artificially inflated prices during the Class Period as a result of these materially false and misleading statments and failures to disclose.

WHY CONTACT KAPLAN FOX?

Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.

Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.

For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.

If you have any questions about this Notice, your rights, or your interests, please contact:

Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.

https://www.kaplanfox.com/case/hdfc-bank-limited-investor-lawsuit-learn-more-now/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317916

Source: Kaplan Fox & Kilsheimer LLP

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

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New York, New York--(Newsfile Corp. - October 8, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of HDFC Bank Limited (NYSE: HDB) between July 17, 2023 to May 26, 2026, inclusive (the "Class Period"), of the important October 13, 2026 lead plaintiff deadline.

SO WHAT: If you purchased HDFC Bank securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the HDFC Bank class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and HDFC Bank's own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, HDFC Bank's interest income and operating expenses were overstated; and (5) as a result of the foregoing, defendants' positive statements about HDFC Bank's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the HDFC class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318138

Source: The Rosen Law Firm PA

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, /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against HDFC Bank Limited ("HDFC" or the "Company") (NYSE: HDB).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether HDFC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until October 13, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired HDFC securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com. 

[Click here for information about joining the class action]

On March 18, 2026, during U.S. market hours, HDFC filed a letter with the Bombay Stock Exchange and the National Stock Exchange of India Limited, reporting the resignation of Mr. Atanu Chakraborty from his roles as part-time Chairman and Independent Director of HDFC. The Company's letter attached Mr. Chakraborty's resignation letter, which stated that "[c]ertain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal Values and Ethics. This is the basis of my aforementioned decision." 

On this news, the price of HDFC's American Depositary Shares ("ADS") fell $2.09, or 7.28% to close at $26.62 per share on March 18, 2026, on unusually heavy trading volume. 

On May 27, 2026, before the market opened, The Indian Express published an article entitled "HDFC Bank 'camouflaged' crores as marketing spend to pay higher interest to state firm." The article reported that HDFC Bank had made covert payments of approximately "Rs 45 crore," or approximately $4.7 million USD, to the Maharashtra State Road Development Corporation ("MSRDC") to induce MSRDC to make large deposits with the Company. The Company offered 6.01% interest to MSRDC, a 2.51% markup over the interest offered to other savings accounts, and paid that markup by "disguis[ing] [it] as sponsorship payments for a road safety awareness campaign run by MSRDC." Reportedly, an internal probe in March and April 2026 concluded that over ten top officials bore responsibility, including HDFC's CEO Sashidhar Jagdishan. 

On this news, HDFC's ADS price fell $1.02, or 4.11%, to close at $23.78 per ADS on May 27, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising.  Prior results do not guarantee similar outcomes.  

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

, /PRNewswire/ -- Hagens Berman, a national law firm noted for its preeminent work in securities class action litigation, notifies investors in HDFC Bank Limited (NYSE: HDB) of a pending securities fraud class action.

Class Period: July 17, 2023 – May 26, 2026 Lead Plaintiff Deadline: Oct. 13, 2026 Visit: www.hbsslaw.com/hdb  Contact the Firm Now: [email protected] / 844-916-0895 Blog: www.hbsslaw.com/blog/the-spread-between-truth-and-price-hdfc-bank-limited-hdb HDFC Bank Limited (HDB) Securities Class Action Overview:

The lawsuit filed against HDFC Bank Limited ("HDFC" or the "Company"), and certain top executive officers including Chief Executive Officer Sashidhar Jagdishan and Chief Financial Officer Srinivasan Vaidyanathan, alleges violations of the federal securities laws.

Specifically, the action centers on HDFC's failure to disclose key material adverse facts regarding its business operations, financial accounting, and regulatory compliance:

Camouflaged Marketing Payments & Covert Deposit Inducements: HDFC secretly funneled approximately Rs 45 crore (approx. $4.7 million USD) to the Maharashtra State Road Development Corporation ("MSRDC") to induce the state firm to place large deposits with the bank. Disguised Above-Market Interest Rates: To circumvent regulations and provide MSRDC with a 6.01% interest rate (a 2.51% markup over standard retail savings accounts), senior management devised a scheme to route the differential payments through the marketing department disguised as sponsorship contributions for a road safety awareness campaign. Governance and Regulatory Breaches: These covert practices violated the Reserve Bank of India's (RBI) Master Directions on interest rates and breached the bank's own internal anti-bribery and anti-corruption policies prohibiting improper inducements. Overstated Financials: As a result of these hidden activities, HDFC's interest income and operating expenses were overstated during the class period, rendering the Company's positive public statements and financial controls false and misleading. Truth Begins to Unravel & Stock Price Declines:

The fraudulent scheme allegedly began to surface in stages, causing sharp drops in the market value of HDFC American Depositary Shares (ADS):

March 18, 2026: HDFC announced the abrupt resignation of part-time Chairman and Independent Director Atanu Chakraborty, whose resignation letter stated that happenings and practices within the bank over the prior two years were "not in congruence with my personal Values and Ethics." On this news, HDFC ADS prices fell 7.28% on heavy volume. May 27, 2026: The Indian Express published an investigative report exposing that HDFC "camouflaged crores as marketing spend" to pay higher interest to MSRDC, revealing an internal vigilance probe implicating CEO Sashidhar Jagdishan and other top leadership. Following this disclosure, HDFC ADS fell 4.1% to close at $23.78 per share. Hagens Berman's Investigation

"We're focused on whether HDFC's senior leadership concealed a covert scheme to funnel millions in disguised payments to induce state-firm deposits while publicly painting a picture of strong governance and compliance, as the complaint alleges," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation of the pending claims in the suit.

What Affected HDB Investors Should Do

If you purchased or acquired HDFC securities between July 17, 2023, and May 26, 2026, and suffered significant financial losses, you have until October 13, 2026, to ask the court to appoint you as lead plaintiff.

To learn more about your legal options, submit your information to Hagens Berman, visit www.hbsslaw.com/hdb, call Reed Kathrein at 844-916-0895, or email [email protected].

Whistleblowers: Persons with non-public information regarding HDFC should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.

SOURCE Hagens Berman Sobol Shapiro LLP

New York, New York--(Newsfile Corp. - October 7, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of HDFC Bank Limited (NYSE: HDB) between July 17, 2023 to May 26, 2026, inclusive (the "Class Period"), of the important October 13, 2026 lead plaintiff deadline.

SO WHAT: If you purchased HDFC Bank securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the HDFC Bank class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and HDFC Bank's own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, HDFC Bank's interest income and operating expenses were overstated; and (5) as a result of the foregoing, defendants' positive statements about HDFC Bank's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the HDFC class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317867

Source: The Rosen Law Firm PA

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

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NEW YORK, Oct. 07, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of HDFC Bank Limited (NYSE: HDB) between July 17, 2023 to May 26, 2026, inclusive (the “Class Period”), of the important October 13, 2026 lead plaintiff deadline.

SO WHAT: If you purchased HDFC Bank securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the HDFC Bank class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and HDFC Bank’s own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, HDFC Bank’s interest income and operating expenses were overstated; and (5) as a result of the foregoing, defendants’ positive statements about HDFC Bank’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the HDFC class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

, /PRNewswire/ -- Hagens Berman, a national law firm noted for its preeminent work in securities class action litigation, notifies investors in HDFC Bank Limited (NYSE: HDB) of a pending securities fraud class action.

Class Period: July 17, 2023 – May 26, 2026 Lead Plaintiff Deadline: Oct. 13, 2026 Visit: www.hbsslaw.com/hdb  Contact the Firm Now: [email protected] / 844-916-0895 HDFC Bank Limited (HDB) Securities Class Action Overview:

The lawsuit filed against HDFC Bank Limited ("HDFC" or the "Company"), and certain top executive officers including Chief Executive Officer Sashidhar Jagdishan and Chief Financial Officer Srinivasan Vaidyanathan, alleges violations of the federal securities laws.

Specifically, the action centers on HDFC's failure to disclose key material adverse facts regarding its business operations, financial accounting, and regulatory compliance:

Camouflaged Marketing Payments & Covert Deposit Inducements: HDFC secretly funneled approximately Rs 45 crore (approx. $4.7 million USD) to the Maharashtra State Road Development Corporation ("MSRDC") to induce the state firm to place large deposits with the bank. Disguised Above-Market Interest Rates: To circumvent regulations and provide MSRDC with a 6.01% interest rate (a 2.51% markup over standard retail savings accounts), senior management devised a scheme to route the differential payments through the marketing department disguised as sponsorship contributions for a road safety awareness campaign. Governance and Regulatory Breaches: These covert practices violated the Reserve Bank of India's (RBI) Master Directions on interest rates and breached the bank's own internal anti-bribery and anti-corruption policies prohibiting improper inducements. Overstated Financials: As a result of these hidden activities, HDFC's interest income and operating expenses were overstated during the class period, rendering the Company's positive public statements and financial controls false and misleading. Truth Begins to Unravel & Stock Price Declines:

The fraudulent scheme allegedly began to surface in stages, causing sharp drops in the market value of HDFC American Depositary Shares (ADS):

March 18, 2026: HDFC announced the abrupt resignation of part-time Chairman and Independent Director Atanu Chakraborty, whose resignation letter stated that happenings and practices within the bank over the prior two years were "not in congruence with my personal Values and Ethics." On this news, HDFC ADS prices fell 7.28% on heavy volume. 2. May 27, 2026: The Indian Express published an investigative report exposing that HDFC "camouflaged crores as marketing spend" to pay higher interest to MSRDC, revealing an internal vigilance probe implicating CEO Sashidhar Jagdishan and other top leadership. Following this disclosure, HDFC ADS fell 4.1% to close at $23.78 per share.

Hagens Berman's Investigation

"We're focused on whether HDFC's senior leadership concealed a covert scheme to funnel millions in disguised payments to induce state-firm deposits while publicly painting a picture of strong governance and compliance, as the complaint alleges," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation of the pending claims in the suit.

What Affected HDB Investors Should Do

If you purchased or acquired HDFC securities between July 17, 2023, and May 26, 2026, and suffered significant financial losses, you have until October 13, 2026, to ask the court to appoint you as lead plaintiff.

To learn more about your legal options, submit your information to Hagens Berman, visit www.hbsslaw.com/hdb, call Reed Kathrein at 844-916-0895, or email [email protected].

Whistleblowers: Persons with non-public information regarding HDFC should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.

SOURCE Hagens Berman Sobol Shapiro LLP

NEW YORK and NEW ORLEANS, Oct. 06, 2026 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with substantial losses that they have until October 13, 2026 to file lead plaintiff applications in a securities class action lawsuit against HDFC Bank Limited (“HDFC” or the “Company”) (NYSE: HDB), if they purchased or otherwise acquired the Company’s securities between July 17, 2023 and May 26, 2026, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased securities of HDFC as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-833-538-3616 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-hdb/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 13, 2026.

>>>CLICK HERE for more information

About the Lawsuit

HDFC and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On May 27, 2026, pre-market, The Indian Express reported that HDFC Bank had disguised crores of rupees as marketing expenditures in order to pay above-market interest rates to a state-owned enterprise. According to the article, the Company secretly funneled roughly Rs 45 crore (about $4.7 million) to the Maharashtra State Road Development Corporation ("MSRDC") to encourage MSRDC to place substantial deposits with the bank. HDFC Bank offered MSRDC a 6.01% interest rate — 2.51 percentage points above what it paid other depositors — and covered that premium by characterizing the payments as sponsorship of an MSRDC road safety awareness initiative. The article further reported that an internal investigation conducted in March and April 2026 found more than ten senior officials responsible for the scheme, including CEO Sashidhar Jagdishan.

On this news, the price of HDFC shares fell $1.02, or 4.1%, to close at $23.78 per share on May 27, 2026, on unusually heavy trading volume.

The case is Soneji v. HDFC Bank Limited, Case No. 26-cv-06943.

>>>To Learn More, Click HERE

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

>>>For More Information about the case, Click HERE

Contact:

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner
[email protected]
1-833-538-3616
1100 Poydras St., Suite 960
New Orleans, LA 70163

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

BENSALEM, Pa., Oct. 06, 2026 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at (215) 638-4847 or by email to [email protected].

Flotek Industries, Inc. (NYSE: FTK)
Class Period: August 3, 2026 – August 17, 2026
Lead Plaintiff Deadline: October 26, 2026

The complaint filed in this class action alleges that between August 3, 2026 and August 17, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) that there were credible reasons to doubt the experience, organization, and financial capacity of the consortium parties for PREPA’s power generation project; (2) that, as a result, there was a risk that revenue from the PREPA contract would not be realized; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Aevex Corp. (NYSE: AVEX)
Class Period: April 14, 2026 – June 4, 2026
Lead Plaintiff Deadline: October 20, 2026

The complaint filed in this class action alleges that between April 14, 2026 and June 4, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) Madison and certain Underwriter Defendants had a pre-arranged plan to prematurely abrogate Aevex’s 180-day lock up and allow for an SPO shortly after the IPO; (ii) as a result of the forgoing, Madison would dispose of a significant portion of its Aevex holdings in the SPO, and the entirety of the SPO’s net proceeds went to Madison, with Aevex earning zero from the SPO; (iii) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Fractyl Health, Inc. (NASDAQ: GUTS)
Class Period: January 13, 2025 – January 29, 2026
Lead Plaintiff Deadline: October 20, 2026

The complaint filed in this class action alleges that between January 13, 2025 and January 29, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) Revita was less effective than Defendants had led investors to believe, and/or operational issues at one or more of the REMAIN-1 Midpoint Cohort’s clinical sites compromised the integrity of its efficacy results; (ii) accordingly, Revita’s clinical, regulatory, and commercial prospects were overstated, as was the REMAIN-1 Midpoint Cohort’s ability to assess Revita’s efficacy; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

HDFC Bank Limited (NYSE: HDB)
Class Period: July 17, 2023 – May 26, 2026
Lead Plaintiff Deadline: October 13, 2026

The complaint filed in this class action alleges that between July 17, 2023 and May 26, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and the Company’s own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, the Company’s interest income and operating expenses were overstated; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

, /PRNewswire/ -- Hagens Berman, a national law firm noted for its preeminent work in securities class action litigation, notifies investors in HDFC Bank Limited (NYSE: HDB) of a pending securities fraud class action.

Class Period: July 17, 2023 – May 26, 2026 Lead Plaintiff Deadline: Oct. 13, 2026 Visit: www.hbsslaw.com/hdb  Contact the Firm Now: [email protected] / 844-916-0895 Blog: www.hbsslaw.com/blog/the-spread-between-truth-and-price-hdfc-bank-limited-hdb HDFC Bank Limited (HDB) Securities Class Action Overview:

The lawsuit filed against HDFC Bank Limited ("HDFC" or the "Company"), and certain top executive officers including Chief Executive Officer Sashidhar Jagdishan and Chief Financial Officer Srinivasan Vaidyanathan, alleges violations of the federal securities laws.

Specifically, the action centers on HDFC's failure to disclose key material adverse facts regarding its business operations, financial accounting, and regulatory compliance:

Camouflaged Marketing Payments & Covert Deposit Inducements: HDFC secretly funneled approximately Rs 45 crore (approx. $4.7 million USD) to the Maharashtra State Road Development Corporation ("MSRDC") to induce the state firm to place large deposits with the bank. Disguised Above-Market Interest Rates: To circumvent regulations and provide MSRDC with a 6.01% interest rate (a 2.51% markup over standard retail savings accounts), senior management devised a scheme to route the differential payments through the marketing department disguised as sponsorship contributions for a road safety awareness campaign. Governance and Regulatory Breaches: These covert practices violated the Reserve Bank of India's (RBI) Master Directions on interest rates and breached the bank's own internal anti-bribery and anti-corruption policies prohibiting improper inducements. Overstated Financials: As a result of these hidden activities, HDFC's interest income and operating expenses were overstated during the class period, rendering the Company's positive public statements and financial controls false and misleading. Truth Begins to Unravel & Stock Price Declines:

The fraudulent scheme allegedly began to surface in stages, causing sharp drops in the market value of HDFC American Depositary Shares (ADS):

March 18, 2026: HDFC announced the abrupt resignation of part-time Chairman and Independent Director Atanu Chakraborty, whose resignation letter stated that happenings and practices within the bank over the prior two years were "not in congruence with my personal Values and Ethics." On this news, HDFC ADS prices fell 7.28% on heavy volume. May 27, 2026: The Indian Express published an investigative report exposing that HDFC "camouflaged crores as marketing spend" to pay higher interest to MSRDC, revealing an internal vigilance probe implicating CEO Sashidhar Jagdishan and other top leadership. Following this disclosure, HDFC ADS fell 4.1% to close at $23.78 per share. Hagens Berman's Investigation

"We're focused on whether HDFC's senior leadership concealed a covert scheme to funnel millions in disguised payments to induce state-firm deposits while publicly painting a picture of strong governance and compliance, as the complaint alleges," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation of the pending claims in the suit.

What Affected HDB Investors Should Do

If you purchased or acquired HDFC securities between July 17, 2023, and May 26, 2026, and suffered significant financial losses, you have until October 13, 2026, to ask the court to appoint you as lead plaintiff.

To learn more about your legal options, submit your information to Hagens Berman, visit www.hbsslaw.com/hdb, call Reed Kathrein at 844-916-0895, or email [email protected].

Whistleblowers: Persons with non-public information regarding HDFC should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.

SOURCE Hagens Berman Sobol Shapiro LLP

New York, New York--(Newsfile Corp. - October 6, 2026) - If you suffered a loss on your investment in HDFC Bank Limited ("HDFC" or the "Company") (NYSE: HDB), contact Lauren Molinaro by email at [email protected], or fill out the contact form below to discuss your rights or interests in the securities fraud class action lawsuit at no cost. Investors have until October 13, 2026 to ask the Court to appoint them as lead plaintiff. Courts do not consider applications filed after this deadline.

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Is The Lawsuit About?

The lawsuit has been filed on behalf of investors who purchased securities during the period of July 17, 2023 through May 26, 2026, inclusive ("the Class Period"). The lawsuit alleges that HDFC made materially false and/or misleading statements and failed to disclose to investors that: (i) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (ii) these activities were approved by senior management; (iii) these activities likely violated regulations and the Company's own policies, including those that prohibit payments that could constitute improper inducement; and (iv) as a result of the foregoing, the Company's interest income and operating expenses were overstated.

On March 18, 2026, HDFC filed a letter with the Bombay Stock Exchange and the National Stock Exchange of India Limited, reporting the resignation of Mr. Atanu Chakraborty from his roles as part-time Chairman and Independent Director of HDFC. Mr. Charkraborty's resignation letter was attached, which stated that the basis of his decision to resign was that "[c]ertain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal Values and Ethics." On this news, HDFC's stock price fell $2.09, or 7.28%, to close at $26.62 per share on March 18, 2026.

On May 27, 2026, the Indian Express published an article entitled "HDFC Bank 'camouflaged' crores as marketing spend to pay higher interest to state firm." The article reported that the Company made covert payments of approximately "Rs 45 crore," or $4.7 million USD, to Maharashtra State Road Development Corporation ("MSRDC") to induce MSRDC to make large deposits with the Company. The article also asserted that HDFC offered 6.01% interest to MSRDC, a 2.51% markup over the interest offered to other savings accounts, which it "disguised as sponsorship payments for a road safety awareness campaign run by MSRDC." On this news, HDFC's stock price fell $1.02, or 4.1%, to close at $23.78 per share on May 27, 2026.

[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]

What Should I Do?

If you purchased or otherwise acquired HDFC securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at [email protected], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

The lead plaintiff oversees the litigation on behalf of the class and may influence key decisions, including litigation strategy and settlement. Courts regularly appoint individual investors as lead plaintiffs, not only institutions. Learn more about the lead plaintiff process and eligibility requirements here.

[LEARN MORE ABOUT THE LEAD PLAINTIFF PROCESS]

Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found on Kirby McInerney LLP's website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317587

Source: Kirby McInerney LLP

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New York, New York--(Newsfile Corp. - October 5, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of HDFC Bank Limited (NYSE: HDB) between July 17, 2023 to May 26, 2026, inclusive (the "Class Period"), of the important October 13, 2026 lead plaintiff deadline.

SO WHAT: If you purchased HDFC Bank securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the HDFC Bank class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and HDFC Bank's own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, HDFC Bank's interest income and operating expenses were overstated; and (5) as a result of the foregoing, defendants' positive statements about HDFC Bank's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the HDFC class action, go to https://rosenlegal.com/cases/hdfc-bank-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317611

Source: The Rosen Law Firm PA

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San Francisco, California--(Newsfile Corp. - October 5, 2026) - Hagens Berman, a national law firm noted for its preeminent work in securities class action litigation, notifies investors in HDFC Bank Limited (NYSE: HDB) of a pending securities fraud class action.

Class Period: July 17, 2023 – May 26, 2026Lead Plaintiff Deadline: Oct. 13, 2026Visit: www.hbsslaw.com/hdb Contact the Firm Now: [email protected] / 844-916-0895Blog: www.hbsslaw.com/blog/the-spread-between-truth-and-price-hdfc-bank-limited-hdbHDFC Bank Limited (HDB) Securities Class Action Overview:

The lawsuit filed against HDFC Bank Limited ("HDFC" or the "Company"), and certain top executive officers including Chief Executive Officer Sashidhar Jagdishan and Chief Financial Officer Srinivasan Vaidyanathan, alleges violations of the federal securities laws.

Specifically, the action centers on HDFC's failure to disclose key material adverse facts regarding its business operations, financial accounting, and regulatory compliance:

Camouflaged Marketing Payments & Covert Deposit Inducements: HDFC secretly funneled approximately Rs 45 crore (approx. $4.7 million USD) to the Maharashtra State Road Development Corporation ("MSRDC") to induce the state firm to place large deposits with the bank.Disguised Above-Market Interest Rates: To circumvent regulations and provide MSRDC with a 6.01% interest rate (a 2.51% markup over standard retail savings accounts), senior management devised a scheme to route the differential payments through the marketing department disguised as sponsorship contributions for a road safety awareness campaign.Governance and Regulatory Breaches: These covert practices violated the Reserve Bank of India's (RBI) Master Directions on interest rates and breached the bank's own internal anti-bribery and anti-corruption policies prohibiting improper inducements.Overstated Financials: As a result of these hidden activities, HDFC's interest income and operating expenses were overstated during the class period, rendering the Company's positive public statements and financial controls false and misleading.Truth Begins to Unravel & Stock Price Declines:

The fraudulent scheme allegedly began to surface in stages, causing sharp drops in the market value of HDFC American Depositary Shares (ADS):

March 18, 2026: HDFC announced the abrupt resignation of part-time Chairman and Independent Director Atanu Chakraborty, whose resignation letter stated that happenings and practices within the bank over the prior two years were "not in congruence with my personal Values and Ethics." On this news, HDFC ADS prices fell 7.28% on heavy volume.May 27, 2026: The Indian Express published an investigative report exposing that HDFC "camouflaged crores as marketing spend" to pay higher interest to MSRDC, revealing an internal vigilance probe implicating CEO Sashidhar Jagdishan and other top leadership. Following this disclosure, HDFC ADS fell 4.1% to close at $23.78 per share.Hagens Berman's Investigation

"We're focused on whether HDFC's senior leadership concealed a covert scheme to funnel millions in disguised payments to induce state-firm deposits while publicly painting a picture of strong governance and compliance, as the complaint alleges," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation of the pending claims in the suit.

What Affected HDB Investors Should Do

If you purchased or acquired HDFC securities between July 17, 2023, and May 26, 2026, and suffered significant financial losses, you have until October 13, 2026, to ask the court to appoint you as lead plaintiff.

To learn more about your legal options, submit your information to Hagens Berman, visit www.hbsslaw.com/hdb, call Reed Kathrein at 844-916-0895, or email [email protected].

Whistleblowers: Persons with non-public information regarding HDFC should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

# # #

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.

Contact: Hagens Berman, Reed Kathrein, 715 Hearst Avenue, Suite 300, Berkeley, CA 94710, 844-916-0895, [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317553

Source: Hagens Berman Sobol Shapiro LLP

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LOS ANGELES, Oct. 05, 2026 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to [email protected].

UWM Holdings Corporation (NYSE: UWMC)
Class Period: March 9, 2026 – August 5, 2026
Lead Plaintiff Deadline: October 13, 2026

The complaint filed in this class action alleges that between March 9, 2026 and August 5, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company had deviated from its traditional strategy of not hedging its mortgage servicing rights to take a major hedge position; (2) the Company over-hedged itself in anticipation of the Two Harbors transaction; (3) the Company’s purported efforts to balance its risk in fact created an excess hedging risk; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you are a UWM Holdings shareholder who suffered a loss, click here to participate.

HDFC Bank Limited (NYSE: HDB)
Class Period: July 17, 2023 – May 26, 2026
Lead Plaintiff Deadline: October 13, 2026

The complaint filed in this class action alleges that between July 17, 2023 and May 26, 2026, Defendants failed to disclose to investors: (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and the Company’s own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, the Company’s interest income and operating expenses were overstated; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you are a HDFC Bank shareholder who suffered a loss, click here to participate.

Simply Good Foods Company (NASDAQ: SMPL)
Class Period: October 24, 2024 – April 8, 2026
Lead Plaintiff Deadline: October 13, 2026

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) that Simply Good Foods had lost key managerial personnel following the acquisition of OWYN necessary for the successful integration of the acquired OWYN assets; (2) that Simply Good Foods had materially increased its general and administrative spending to compensate for the loss of key managerial personnel; (3) the addition of a new pea protein supplier for OWYN prior to the acquisition had created significant product quality issues which had negatively impacted the product; (4) Simply Good Foods had engaged in promotional activities for OWYN products above its historical practices, eroding margins; (5) that, in order to stem the margin erosion, Simply Good Foods had cut brand support and marketing, further depressing product sales; (6) as a result of the above, the OWYN acquisition had largely failed to achieve its key strategic goals, the integration of OWYN had run into severe operational and execution problems, and the business and operational results for the OWYN segment had been materially negatively impacted, undermining the acquisitions economic rationale; and (7) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you are a Simply Good Foods shareholder who suffered a loss, click here to participate.

Aardvark Therapeutics, Inc. (NASDAQ: AARD)
Class Period: February 10, 2025 – May 14, 2026
Lead Plaintiff Deadline: October 13, 2026

The complaint filed in this class action alleges that between February 10, 2025 and May 14, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) ARD-101 was less safe than Defendants had led investors to believe; (ii) accordingly, ARD-101’s clinical, regulatory, and commercial prospects were overstated; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

If you are an Aardvark shareholder who suffered a loss, click here to participate.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com

NEW YORK, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP reminds purchasers of HDFC Bank Limited (NYSE: HDB) securities of a pending securities class action brought on behalf of investors who acquired shares between July 17, 2023 and May 26, 2026. Find out if you could qualify to recover your per-share losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

HDB American Depositary Shares declined a cumulative $3.11 per share, across two disclosure events, ultimately closing at $23.78 on May 27, 2026. The last day to move for lead plaintiff is October 13, 2026.

What the Company Told Investors About Its Books

Quarterly releases throughout the Class Period reported net interest income figures such as ₹306.5 billion for the quarter ended December 31, 2024, alongside core net interest margin and cost-to-income ratios presented as reflecting ordinary banking operations. The lawsuit maintains that those categories were not accurate because a rate differential paid to attract deposits was allegedly booked as marketing expense rather than as interest expended.

The Gap the Lawsuit Describes

Promised: interest expense measured as "interest earned less interest expended." Alleged reality: roughly Rs 45 crore ($4.7 million) of deposit-related cost allegedly routed through the marketing department.Promised: rates consistent with published deposit terms. Alleged reality: 6.01% offered to one state entity, a claimed 2.51% markup over other savings accounts.Promised: sponsorship of a road safety awareness campaign. Alleged reality: a vehicle for paying that differential, plaintiffs assert.Promised: strong institutional ethics. Alleged reality: the part-time Chairman resigned on March 18, 2026 citing practices "not in congruence with my personal Values and Ethics."Promised: effective internal control over financial reporting. Alleged reality: senior management approval of the arrangement, per the complaint.Result: HDB shares fell $2.09 (7.28%) to $26.62 on March 18, 2026, then $1.02 (4.1%) to $23.78 on May 27, 2026, both on unusually heavy volume. Why the Accounting Classification Allegedly Mattered

Because an internal review reportedly concluded that more than ten senior officials bore responsibility, the lawsuit maintains that the alleged misclassification touched both reported margin metrics and the Company's representations about its control environment. Plaintiffs assert that investors purchasing during the Class Period paid prices that did not reflect these allegedly undisclosed facts.

"When companies fail to disclose material information, shareholders may suffer significant losses, and the allegation here is that a deposit inducement was recorded under a label that obscured its economic character," -- Joseph E. Levi, Esq.

Submit your information here or call (212) 363-7500.

WHY LEVI & KORSINSKY — Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Investors who suffered losses have until October 13, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the HDB Lawsuit

Q: How much did HDB stock drop? A: HDFC’s American depository share price fell approximately $2.09, or about 7.28% to close at $26.62 on March 18, 2026. The stock fell a further approximate $1.02, or 4.1% to ultimately close at $23.78 on May 27, 2026.

Q: What specific misstatements does the HDB lawsuit allege? A: The complaint alleges HDFC Bank Limited made materially false or misleading statements regarding its net interest income, net interest margin, operating expenses, regulatory compliance, and internal controls during the Class Period. When reports emerged that deposit inducements were allegedly camouflaged as sponsorship payments, the stock price declined sharply.

Q: Who are the defendants named in the HDB lawsuit? A: The complaint names HDFC Bank Limited and individual defendants including senior executives who signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley.

Q: What do HDB investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What documents do I need to to submit my information? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my HDB shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (212) 363-7500

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.