US securities fraud suit knocks HDFC shares to a fresh 52-week low
An investor filed a securities fraud class-action in New York against HDFC Bank and two senior executives, alleging false and misleading statements. The stock fell 2% to a fresh 52-week low, roughly 30% off its October high, and the bank called the claims meritless. The suit deepens an already bruising year, following the chairman's resignation and a sell-off that erased $18bn-plus in market value.