HDFC Bank shares fall as 3 US law firms launch probe over alleged federal law violations

Three United States law firms are investigating HDFC Bank for alleged securities law violations. These firms are examining if the bank disguised payments to MSRDC as marketing expenses. HDFC Bank shares have declined significantly following these announcements and after its Q1 earnings report. The bank has strongly denied any allegations of wrongdoing or culpability. Investigations are ongoing, with firms seeking shareholders who suffered losses to come forward.

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