HDB INVESTOR DEADLINE: HDFC Bank Limited Investors with Substantial Losses Have Opportunity to Lead the HDFC Shareholder Class Action Lawsuit Before October 13, 2023

San Francisco, California--(Newsfile Corp. - September 4, 2026) - Hagens Berman, a national law firm noted for its preeminent work in securities class action litigation, notifies investors in HDFC Bank Limited (NYSE: HDB) of a pending securities fraud class action.

• Class Period: July 17, 2023 - May 26, 2026
• Lead Plaintiff Deadline: Oct. 13, 2026
• Visit: www.hbsslaw.com/hdb
• Contact the Firm Now: [e-mail] / 844-916-0895

HDFC Bank Limited (HDB) Securities Class Action Overview:

The lawsuit filed against HDFC Bank Limited ("HDFC" or the "Company"), and certain top executive officers including Chief Executive Officer Sashidhar Jagdishan and Chief Financial Officer Srinivasan Vaidyanathan, alleges violations of the federal securities laws.

Specifically, the action centers on HDFC's failure to disclose key material adverse facts regarding its business operations, financial accounting, and regulatory compliance:

• Camouflaged Marketing Payments & Covert Deposit Inducements: HDFC secretly funneled approximately Rs 45 crore (approx. $4.7 million USD) to the Maharashtra State Road Development Corporation ("MSRDC") to induce the state firm to place large deposits with the bank.
• Disguised Above-Market Interest Rates: To circumvent regulations and provide MSRDC with a 6.01% interest rate (a 2.51% markup over standard retail savings accounts), senior management devised a scheme to route the differential payments through the marketing department disguised as sponsorship contributions for a road safety awareness campaign.
• Governance and Regulatory Breaches: These covert practices violated the Reserve Bank of India's (RBI) Master Directions on interest rates and breached the bank's own internal anti-bribery and anti-corruption policies prohibiting improper inducements.
• Overstated Financials: As a result of these hidden activities, HDFC's interest income and operating expenses were overstated during the class period, rendering the Company's positive public statements and financial controls false and misleading.

Truth Begins to Unravel & Stock Price Declines:

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