The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased Dr. Reddy’s Laboratories Ltd. (NYSE : RDY) securities between June 17, 2015 and August 10, 2017.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Dr. Reddy’s lacked an effective corporate quality system; and (2) as a result, defendants’ public statements were materially false and misleading at all relevant times. On November 6, 2015, Dr. Reddy’s announced that it had received a warning letter issued by the U.S. Food and Drug Administration concerning inadequate quality control standards at three of Dr. Reddy’s manufacturing plants in India. Then on August 10, 2017, Dr. Reddy’s disclosed that the Regierung von Oberbayern (the district government of Upper Bavaria) did not renew the good manufacturing practices compliance certificate of a manufacturing unit of Dr. Reddy’s German subsidiary Betapharm Arzneimittel, located in India.
If you suffered a loss in Dr. Reddy’s Laboratories Ltd. you have until October 24, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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