US Law Firms Probe HDFC Bank ADR Disclosures Over Potential Securities Violations
Three US law firms — Glancy Prongay & Rotter, Frank R. Cruz, and Howard G. Smith — filed Business Wire announcements investigating whether HDFC Bank’s U.S. ADR disclosures violate federal securities laws after reports of irregular payments. The probe adds fresh pressure on the lender’s governance and could affect investor confidence in its ADRs.