Trending...
- Pregis Launches Sharp InfinX: On-Demand Rightsized Mailing System Delivering a Precision-Sized Mailer for Every Order
- netElastic Announces vBNG And CGNAT 2.0 General Availability
- Claude Zdanow named Managing Director in Miami, Florida
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming October 31, 2022 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Azure Power Global Limited ("Azure" or the "Company") (NYSE: AZRE) securities between June 15, 2021 and August 26, 2022, inclusive (the "Class Period").
Investors suffering losses on their Azure investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On August 29, 2022, Azure announced the resignation of its CEO, less than two months after his appointment. The Company also disclosed that it had "received a whistleblower complaint in May 2022 alleging potential procedural irregularities and misconduct by certain employees at a plant belonging to one of its subsidiaries." During the Company's review of these allegations, Azure "discovered deviations from safety and quality norms" and "also identified evidence of manipulation of project data and information by certain employees."
More on The PennZone
On this news, the Company's stock fell $4.61, or 44%, to close at $5.85 per share on August 29, 2022, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there were procedural irregularities, including deviations from safety and quality standards, at one of Azure's plants; (2) that certain project data was manipulated; (3) that, as a result of the foregoing, the Company's internal controls and procedures were not effective; (4) that Azure had received a credible whistleblower report alleging such misconduct; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Azure securities during the Class Period, you may move the Court no later than October 31, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
More on The PennZone
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Investors suffering losses on their Azure investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On August 29, 2022, Azure announced the resignation of its CEO, less than two months after his appointment. The Company also disclosed that it had "received a whistleblower complaint in May 2022 alleging potential procedural irregularities and misconduct by certain employees at a plant belonging to one of its subsidiaries." During the Company's review of these allegations, Azure "discovered deviations from safety and quality norms" and "also identified evidence of manipulation of project data and information by certain employees."
More on The PennZone
- Roots for Boots to Participate in 2026 Adams County Community Foundation Giving Spree
- Timbrana Helps General Contractors Improve Jobsite Visibility and Subcontractor Accountability
- Citizens for West Virginia Election Integrity Urges "FOR" on Amendment 1
- Vegan Kingz Expands Direct-Import Wholesale Lineup to Help Commercial Kitchens Cut Ingredient Costs
- Everything Policy Unveils Their Classroom Resources Behind Every Policy Topic
On this news, the Company's stock fell $4.61, or 44%, to close at $5.85 per share on August 29, 2022, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there were procedural irregularities, including deviations from safety and quality standards, at one of Azure's plants; (2) that certain project data was manipulated; (3) that, as a result of the foregoing, the Company's internal controls and procedures were not effective; (4) that Azure had received a credible whistleblower report alleging such misconduct; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Azure securities during the Class Period, you may move the Court no later than October 31, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
More on The PennZone
- Acuvance Survey Finds ERP Integration Remains a Key Challenge as Healthcare Organizations Prepare for AI
- Constantine "Costa" Kapothanasis II Acquires The Lubri-Loy Company, Carrying a 77-Year-Old American Lubricant Brand Into Its Next Era
- LS2 Partners with Angels Of Dirt's "Next Chapter Racer" Series Celebrating Women and Girls in Motorsports
- Danish company biosuite introduces biotech procurement software to track outsourced R&D commitments
- Ten Ten Ten Announces Alento, Its Initiative to Help Independent Primary Care Thrive
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
0 Comments
Latest on The PennZone
- Holiday Gambling Spending Expected to Rise 12% in December
- RAS AP Consulting Issues National Compliance Alert and Launches Q4 2026 AP Readiness Program Ahead of IRS FIRE → IRIS Cutover
- Free Senior Housing Webinar Helps Families Plan for Aging Before a Crisis Forces Difficult Decisions
- Claude Zdanow named Managing Director in Miami, Florida
- YWCA Hanover Celebrates Opening of New Children's Learning Academy
- Pregis Launches Sharp InfinX: On-Demand Rightsized Mailing System Delivering a Precision-Sized Mailer for Every Order
- netElastic Announces vBNG And CGNAT 2.0 General Availability
- Postmortem Pathology Highlights Private Autopsy Options for Las Vegas Families During Summer Months
- Postmortem Pathology Offers Sacramento Families Independent Answers on a Short Timeline
- Philly ECM Programming Announces Mobile Module Programming for Philadelphia Repair Shops
- NEW Three Fully Furnished Single-Family Model Homes at Heritage at South Brunswick
- After 35 Years, Christian Radio Host Marina Maria Publishes the Novel She Never Forgot
- Freight Broker 911 CEO and President Milton Collier Is Rebuilding the Path Into Freight Brokerage
- Boston Industrial Solutions Launches New and Improved Siliart Website for Silicone Decorators
- TrueNorth to Participate in 2026 Adams County Giving Spree
- Roots for Boots Announces Rations for the Ranks to Replace MilitaryShare Beginning November 10
- Scoop Social Co. Brings Its Signature Mobile Dessert Experience to Phoenix
- SMACK Fighting Championships Announces Influencer Fight Night at Harrah's Philadelphia
- BetQL Brings Data Driven 5 Star Betting Insights to the Everyday Sports Bettor
- Sky Quarry's Big Turning Point: CEO Marcus Laun Outlines the Next Phase for N A S D A Q: SKYQ