NEW YORK, July 18, 2018 (GLOBE NEWSWIRE) -- 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 engaged in securities fraud or other unlawful business practices.
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On June 15, 2018, the U.S. District Court for the District of New Jersey granted a request by Indivior PLC (“Indivior”) for a temporary restraining order compelling Dr. Reddy’s to cease its launch activities related to the Company’s Suboxone Film product, pending resolution of Indivior’s motion for a preliminary injunction to block the product’s release. On July 13, 2018, the court granted Indivior’s motion and entered a preliminary injunction order to that effect. On this news, the price of the American depositary receipts of Dr. Reddy’s fell $3.46, or 10.41%, to close at $29.78 on July 16, 2018, the following trading day.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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 80 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.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com