Company Website:
http://www.scott-scott.com
NEW YORK -- (Business Wire)
Scott+Scott,
Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and
consumer rights litigation firm, reminds investors that a securities
class action has been filed against Dr. Reddy’s Laboratories Limited
(“Dr. Reddy’s” or the “Company”) (NYSE: RDY) and certain of its officers
and directors and Lead Plaintiff motions are due October 24, 2017. If
you purchased Dr. Reddy’s American Depository Receipts (“ADRs”) between
June 17, 2015 and August 10, 2017, you are encouraged to contact a
Scott+Scott attorney at (844) 818-6980 for more information.
Dr. Reddy’s is a pharmaceutical company. The lawsuit alleges that Dr.
Reddy’s lacked an effective corporate quality system, and as a result,
defendants’ public statements were materially false and misleading.
On November 6, 2015, Dr. Reddy’s revealed that it had received a warning
letter from the U.S. Food and Drug Administration regarding inadequate
quality control standards at three of its manufacturing plants in India.
Following this news, the price of Dr. Reddy’s ADRs fell 18%, to close at
$53.50 on November 6, 2015.
On August 10, 2017, Dr. Reddy’s revealed that the Regulatory of Germany
(Regierung von Oberbayern) did not renew the good manufacturing
practices (GMP) compliance certificate of a formulations manufacturing
unit of Dr. Reddy’s German subsidiary, betapharm Arzneimittel, located
in Hyderabad, India, following a recent inspection of the plant. On this
news, the ADR price dropped $1.92 per share, or approximately 6%.
What You Can Do
If you purchased Dr. Reddy’s ADRs between June 17, 2015 and August
10, 2017, and you wish to discuss this lawsuit, or have questions
about this notice or your legal rights, please contact attorney Rhiana
Swartz at (844) 818-6980, or at rswartz@scott-scott.com.
The deadline to move for Lead Plaintiff status is October 24, 2017.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170919006273/en/
Contacts:
Scott+Scott,
Attorneys at Law, LLP
Rhiana Swartz, 844-818-6980
rswartz@scott-scott.com
Source: Scott+Scott, Attorneys at Law, LLP
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