SAN FRANCISCO, Oct. 17, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Azure Power Global Limited (NYSE: AZRE) investors who suffered significant losses to submit your losses now.
Class Period: June 15, 2021 - Aug. 26, 2022
Lead Plaintiff Deadline: Oct. 31, 2022
Visit: www.hbsslaw.com/investor-fraud/AZRE
Contact An Attorney Now: [email protected]
844-916-0895
Azure Power Global Limited (NYSE: AZRE) Securities Fraud Class Action:
The complaint challenges Defendants’ statements that Azure and each of its subsidiaries maintain effective internal controls over financial reporting and public disclosures.
These statements were allegedly false and misleading in that they omitted to disclose that: (1) there were procedural irregularities, including deviations from safety and quality standards, at one of Azure’s plants; (2) certain project data was manipulated; (3) as a result of the foregoing, Azure’s internal controls and procedures were not effective; and, (4) Azure received a credible whistleblower complaint alleging such misconduct.
Investors learned the truth on Aug. 29, 2022, when Azure announced that its CEO resigned after just 2 months on the job, that it received a whistleblower complaint in May 2022 alleging potential irregularities and misconduct by employees at a subsidiary-owned plant, and that during Azure’s review of the whistleblower’s allegations it discovered deviations from safety and quality norms and found evidence of project data manipulation.
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