SAN DIEGO, Sept. 12, 2022 (GLOBE NEWSWIRE) — The class: Law firm for shareholder rights Robbins LLP Reminds investors that a shareholder has filed a class action on behalf of all persons and entities who purchased or otherwise acquired securities of Azure Power Global Limited (NYSE:AZRE) between June 15, 2021 and August 26, 2022 for violations of the Securities Exchange Act filed 1934. Azure sells renewable energy in India with long term fixed price contracts.

For more information on Azure Power Global Limited’s misconduct, click here here.

What is it about in this case: Azure Power Global Limited (AZRE) has failed to disclose procedural irregularities, including deviations from safety and quality standards, at any of its plants

According to the complaint, Azure announced the resignation of its CEO on August 29, 2022, less than two months after his appointment. The company also announced that it “received a whistleblower complaint in May 2022 alleging potential procedural irregularities and misconduct by certain employees at a facility of one of its subsidiaries.” During the company’s review of these allegations, Azure “discovered deviations from security and quality standards” and “also identified evidence of manipulation of project data and information by certain employees.”

As a result of this news, the company’s stock fell $4.61, or 44%, to close at $5.85 per share on August 29, 2022.

Next Steps: If you purchased shares in Azure Power Global Limited between June 15, 2021 and August 26, 2022, you have until October 31, 2022 to petition the court to appoint your lead plaintiff in the class action. A lead plaintiff is a representative party acting on behalf of other group members in conducting the litigation. You do not have to be present at the case to be eligible for a recovery.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

Contact us to find out more:

Aaron Dumas
(800) 350-6003
[email protected]
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