NEW YORK, March 3, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Dr. Reddy's Laboratories Limited ("Dr. Reddy's" or the "Company") (NYSE: RDY). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Dr. Reddy's and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 29, 2021, Dr. Reddy's issued a press release announcing the Company's financial results for the quarter and nine months ended December 31, 2020. Among other results, Dr. Reddy's posted a lower-than-expected profit for the quarter, citing the impact of "trigger based impairment charges taken on a few acquired products including gNuvaring."
On this news, Dr. Reddy's American Depositary Receipt ("ADR") price fell $4.78 per ADR, or 7.24%, to close at $61.28 per ADR on January 29, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP