Trending...
- Equipment Leases, Inc. Launches Updated Family Office Equipment Financing Page
- Haven Media Solutions Offers Web Design and PPC Services in Atlanta GA
- Expanding Access to Mental Health Care in Toronto with Dr. Stephen Shainbart
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
- Dominican Fashion Designer Raiza Bonaparte presents the Sovereign Despampanante Collection at the Library of Congress
- Roohid Parast on How AI Is Changing What Bench Scientists Can Do
- What Happens When Congress Says No? New Book Examines the Boland Amendments, Iran-Contra Affair & Jamaican Posse, as US Congress Debate Over Military
- Warm, Dry Summer Forecast Points to a Stronger Wasp and Yellowjacket Season Across the Pacific Northwest
- Qscription Technologies Appoints Anurag Velekkatt Sunil Kumar to Drive Enterprise Scale
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
- SafeBets Named Presenting Sponsor of IMCX 2026, Bringing Its No-Deposit Prediction Platform to the Creator Economy's Deal-Making Conference
- Turnstone Creative's Ashley Russo Serves as Emcee for United Way's 2026 NERC and Women's Summit
- A New Pulse for Cardiac Care in Baltimore: St. Elizabeth Rehab & Nursing Welcomes Dr. Hakim Uqdah and Expands Advanced Heart Program
- Lighthouse 153 Brings Fresh Seafood, Craft Beer, and Coastal Charm to Downtown Hanover This Summer
- Inframark–Slater Joint Venture Selected to Manage Fulton County Wastewater Operations
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
Filed Under: Business
0 Comments
Latest on The PennZone
- Custom Disposables - Wholesale Packaging Solutions for restaurants, food chains, and food distributors
- California Security Glass is an affordable bulletproof glass installation company in LA serving a variety of neighboring cities
- Allstream Energy Partners Announce Media Partnership with the 2026 EPC Show - The Energy Projects Conference
- STO Foundation Launching June 29, 2026 to Advance the Global Tokenization Industry
- West Virginia Leaders Announce Support for Election Integrity Network's Model Election Laws Handbook
- CCHR Condemns Behavioral Treatment After FDA's Missed Deadline to Ban Shock Device
- Brilliant Minds to Gather in Fort Worth for National Mensa Event
- UK Financial Ltd Completes One Of The Most Extensive CoinMarketCap Supply Verification Packages For Maya Preferred PRA (MPRA)
- Data Tiles Strengthens U.S. Presence with Chief Revenue Officer John Goode
- Haven Media Solutions Offers Web Design and PPC Services in Atlanta GA
- TREND Network Announces Miami Based Reality Series "Coming Up Miami" Premiering July 1
- Beemok Hospitality Collection And KLH Group Announce Preferred Partnership
- Expanding Access to Mental Health Care in Toronto with Dr. Stephen Shainbart
- Dr. Stephen Shainbart Launches Expanded Mental Health Support for Anxiety and Depression in Toronto
- Equipment Leases, Inc. Launches Updated Family Office Equipment Financing Page
- The $5 Million Man Still Begging: Incumbent Jimmy Panetta Hits Up Voters for More Cash Despite Massive War Chest
- Kevin Francis Design Introduces CHROMA, a Collection of Saturated Solid Color Wool Rugs
- $150+ Million Contracted Backlog, Strategic Acquisitions Adding Millions In Recurring Revenue, Improving Margins & A Clear Path Toward Profitability
- Record Revenue Growth, AI-Driven Healthcare Innovation, Expanding Proprietary Brand and Targeting $200 Million Revenue By 2029: Cosmos Health Inc
- Bergey's Truck Centers Recognized in 2026 MACH Alliance Composable Impact Awards