Oakland, California – (work wire) – that Azure Power Global Limited Class Action Suit Filed on behalf of investors who lost money in Azure (NYSE: AZRE). Azure Power Global Limited shares plunged 44% on August 29, 2022, after the company revealed it had received a whistleblower complaint back in May 2022 alleging “possible procedural irregularities” and “misconduct by certain employees,” while It also announces that its CEO was to step down, effective immediately after less than two months. Investors who purchased or acquired shares of Azure between June 15, 2021 and August 26, 2022, are encouraged to contact the Gibbs Law Group before the Lead Plaintiff’s October 31, 2022 deadline to discuss your legal rights and options.
To speak with an attorney regarding this class action investigation, click here Or call (888) 410-2925.
On Monday, August 29, 2022, India-based renewable energy producer Azure Power admitted in a press release that it had received a whistleblower complaint back in May 2022 regarding “possible procedural irregularities” and “misconduct by certain employees” at an operating plant by its subsidiary. Azure Power also said that when reviewing the allegations, the company had already detected “deviations from safety and quality standards” as well as “evidence of tampering with project data and information by some employees.” The class action alleges that Azure’s positive statements about its business, operations, and prospects were misleading to investors.
In an August press release, Azure Power also said that Harsh Shah was stepping down as CEO with immediate effect, although he only took over the role on July 1, 2022.
Azure Power also reiterated that it is still unable to submit its annual report for the fiscal year ending March 31, 2022, having previously announced that it will be postponed on August 12, 2022.
After this news, Azure Power stock collapsed 44% to close at $5.85 on August 29, 2022, causing significant damage to investors.
what should Azure power Are the investors?
If you invest in Azure Power, visit website Or contact our stock team directly at (888) 410-2925 To discuss how you can recover your losses. Our investigation relates to whether Azure Power violated federal securities laws.
About Gibbs Legal Group
Gibbs Law Group represents individual and institutional investors across the country in Securities litigation To correct abusive corporate governance practices, breaches of fiduciary duty, and agent abuses. The firm has recovered over $1 billion for its clients against some of the largest corporations in the world, and our attorneys have received numerous accolades for their work, including “America’s Best Lawyers”, “California’s Best Plaintiff’s Lawyer”, and “California Lawyer of the Year” “,” Best Class Action Lawyer Under 40″, “Best Consumer Protection Lawyer”, and “Best Cyber Security/Privacy Lawyer Under 40”.
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