NEW YORK, Aug. 10, 2017 /PRNewswire/ -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Dr. Reddy's Laboratories Ltd. ("Dr. Reddy's" or the "Company") (NYSE: RDY). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/rdy.
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, Dr. Reddy's revealed that it had received a warning letter from the U.S. Food and Drug Administration regarding inadequate quality control standards at three of the its manufacturing plants in India. Following this news, Dr. Reddy's' American Depositary Receipt ("ADR") price fell $11.75, or 18.01%, to close at $53.50 on November 6, 2015. On August 10, 2017, Dr. Reddy's revealed that the Regulatory of Germany (Regierung von Oberbayern) did not renew the good manufacturing practices (GMP) compliance certificate of a formulations manufacturing unit of its German subsidiary Betapharm Arzneimittel, located in Hyderabad, India, following a recent inspection of the plant. Following this news, Dr. Reddy's' ADR price has dropped as much as $1.91, or 5.92%, during intraday trading on August 10, 2017.
If you are aware of any facts relating to this investigation, or purchased shares of Dr. Reddy's, you can assist this investigation by visiting the firm's site: www.bgandg.com/rdy. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
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