Dr. Reddy's Laboratories Ltd. Securities Litigation
On or around 05/18/2020 (Date of last review)
Filing Date: August 25, 2017
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
On November 21, 2017, Lead Plaintiff and Counsel were appointed. Lead Plaintiff filed a consolidated Complaint on February 16, 2018. Lead Plaintiff filed an amended consolidated Complaint on March 5. Defendants filed a Motion to Dismiss the amended consolidated Complaint on May 9. On March 21, 2019, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.
On May 15, 2020, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on May 18.
Company & Securities Information
Defendant: Dr. Reddy's Laboratories Ltd.
Industry: Major Drugs
Ticker Symbol: RDY
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Regina Critchley, et al. v. Dr. Reddy's Laboratories Ltd., et al.