HDFC Bank Faces A Lawsuit From USA Based Law Firm:- USA based Rosen Law Firm announced an investigation of the potential securities claims on the behalf of the stakeholders of HDFC Bank. The move has been initiated after the allegations issues materially misleading the business information of the investors. Rosen Law Firm issued a press release saying that it has prepared all the securities lawsuit on the behalf of HDFC Bank shareholders. It was earlier reported that HDFC Bank is looking into an alleged improper lending practices in vehicle financing arm. There are allegations that HDFC Bank forced all its customers who acquired car loans to purchase a vehicle tracking device.
After this, HDFC Bank's American receipt price fell by 1.37 USD per share which is equal to 2.83%. HDFC Bank reported the financial results of the first quarter for the year 2021 and missed the analyst estimates. HDFC Bank is late in providing the details of the loans including the repayment status for its borrowers. Rosen Law Firm has investors throughout the globe and it is focused on the practiced insecurities. Last year, Rosen Law Firm prepared an action lawsuit against Infosys for taking unethical steps to boost the revenues and profits. It is heard that one more law fir named Schall Law Firm is preparing an action suit against HDFC Bank very soon.