Trending...
- LS2 Partners with Angels Of Dirt's "Next Chapter Racer" Series Celebrating Women and Girls in Motorsports
- Timbrana Helps General Contractors Improve Jobsite Visibility and Subcontractor Accountability
- Everything Policy Unveils Their Classroom Resources Behind Every Policy Topic
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
- Former Goddard Enterprises Managing Director Anthony Ali Joins STS Capital Partners as Managing Director and Partner
- Heritage at Manalapan Announces Limited-Time Mortgage Rate Buydown on Select Quick Move-In Homes
- Good Organics Now at Pop Up Grocer NYC With October 30 Sampling Event
- KeysCaribbean Announces Temporarily Reduced Rates At Village at Hawks Cay Villas
- Commercial Manufacturing Validation Completed as November 10 FDA Milestone Approaches; Critical FDA Milestone Close: NRx Pharmaceuticals NAS DAQ: NRXP
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
- Electives Launches "Electives for Everyone," Making Live Expert-Led Learning Available to Every Employee
- Tax Tops the List as Wealthy Brits Plan Their Exit, La Vida Survey Finds
- "The Tree of Cinema" Installation Brought Film History and Its Audiences Together at TIFF 2026
- Detroit Lawyer Steals $600,000 Settlement Meant to Protect Child
- The Great Junk Hunt Makes Its Highly Anticipated Stop in Philadelphia (Oaks)!
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
- AutoProIT Achieves Cyber Essentials Certification, Reinforcing Its Commitment to Secure Digital Transformation
- DayPass llega a ChatGPT y Claude
- DayPass launches in ChatGPT and Claude
- Renkeer Water Quality Sensors Support Efficient Operation of AI Liquid Cooling Systems
- Victor Archibong Expands ItsArchiDuh Creator Brand
- Talented Learning Unveils 2026 LMS Award Winners
- Pittsburgh Digital Marketing Agency Moves to Babcock Boulevard in the North Hills
- ClearSight Therapeutics Receives U.S. Patent Notice of Allowance
- Revinate launches hospitality's first data activation platform
- HLN Consulting Names Lilly Kan as Its First Chief Executive Officer
- BitTitan Accelerates Large-Scale Document Migrations with MigrationWiz
- Clearnetworx Deploys netElastic vBNG, CGNAT And netVision To Power Fiber Expansion Across Colorado's Western Slope
- Glenn Strange - Iconic Horror actor of Universal Studios Frankenstein's Monster Fame Honored
- Creole101 Launches Multilingual Dictionary App with 50,000+ Entries, Vocabulary Games and Haitian Cultural Resources
- Hilton Waikiki Beach Resort & Spa Introduces Level 37 Sky Lounge by Casamigos
- Self-Published Dad's Santa Book Finally Found After 3 Years on Amazon
- Meta Partnership Expanding as Omni One Orders Surge 3X -New Consumer Bundles, Defense Opportunities & AI Robotics: Virtuix Holdings: N A S D A Q: VTIX
- 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