According to the guidance notes the drying process of plant materials should be completed at the stage when there still remains 6 - 10 percent of moisture in the plant. Overdrying under e.g. 6 % seems to decrease the content of carotenoids, ascorbic acid and essential oils - according to the few references I have found. Thus evidence is very limited. Our own tests have shown a slight tendency to decreasing contents of phenolics.
I would be happy to get some new hints, experiences or explanations of this phenomenon!