NEW YORK CITY, NY AND NEW ORLEANS, LA / ACCESS Newswire / October 12, 2026 / 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 (lewis.kahn@ksfcounsel.com), 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.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-833-538-3615
1100 Poydras St., Suite 960
New Orleans, LA 70163
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SOURCE: Kahn Swick & Foti, LLC
View the original press release on ACCESS Newswire