NEW YORK, NY / ACCESSWIRE / November 19, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Dr. Reddy's Laboratories Ltd ("Dr. Reddy's" or the "Company") (NYSE: RDY). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Dr. Reddy's and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On November 6, 2015, the company 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 the company's manufacturing plants in India.
On this news, the company's sponsored ADRs fell $12.05, or more than 18%, to close at $53.20 on November 6, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
