SAN FRANCISCO, Oct. 17, 2022 (GLOBE NEWSWIRE) — Hagens Berman is urging Azure Power Global Limited AZRE Investors who have suffered significant losses Submit your losses now.

school lesson: June 15, 2021 – August 26, 2022
Deadline for lead plaintiff: October 31, 2022
Visit: www.hbsslaw.com/investor-fraud/AZRE
Contact a lawyer now: [email protected]
844-916-0895

Azure Power Global Limited AZRE Class action lawsuit alleging securities fraud:

The Complaint challenges Defendants’ assertions that Azure and each of its subsidiaries maintain effective internal controls over financial reporting and disclosure.

These statements were allegedly false and misleading because they failed 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 has received a credible whistleblower complaint alleging such misconduct.

Investors learned the truth on August 29, 2022, when Azure announced that its CEO had resigned after just two months in office, that it had received a whistleblower complaint in May 2022 alleging possible irregularities and misconduct by employees in at a subsidiary plant and that Azure, in reviewing the whistleblower’s allegations, discovered deviations from safety and quality standards and found evidence of project data manipulation.

This news caused the price of Azure shares to fall 44% on August 29, 2022.

“We are focused on the investors’ losses and evidence that Azure has concealed its internal control failures,” said Reed Kathrein, the partner at Hagens Berman who led the investigation.

If you have invested in Azure Power and are experiencing significant losses or have knowledge that can assist the Company’s investigations, Click here to discuss your legal rights with Hagens Berman.

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