Dr. Reddys Laboratories Ltd.

Dr. Reddy’s Laboratories is facing a class action suit in US court. The case has been filed in the US District Court for the District of New Jersey. A law firm representing a purported investor has filed a class action suit in a USA court against the company and its key executives for alleged violations of American federal securities laws.

The lawsuit alleges the company made materially false and/or misleading statements or omissions in connection with its corporate quality system and specifically in connection with a warning letter from the US Food and Drug Administration (USFDA) dated November 6, 2015 and a letter from the Regierung Von Oberbayern in Germany dated August 10, 2017.

The lawsuit seeks damages to compensate the purported class of investors for a purported decline in the company’s share price allegedly caused by the alleged misstatements or omissions.

Dr. Reddy’s Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.