Dr. Reddy’s Hit With Class-Action Suit Claiming False Statements

Dr. Reddy’s Laboratories said it will contest a class-action lawsuit by investors who claim the company made false or misleading statements about its quality system.

The suit came to light in a Nov. 29 filing by the Indian drugmaker to the Bombay Stock Exchange.

The suit was filed on Aug. 25 in New Jersey federal court, alleging the company violated securities laws by making “false and/or misleading statements or omissions in connection with its corporate quality system,” and it cited an FDA warning letter the company had received in 2015.