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Investors with Losses in shares of Azure Power Global Limited (NYSE: AZRE) should contact the Shareholders Foundation

09-07-2022 10:45 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Azure Power Global Limited (NYSE: AZRE) shares.

A lawsuit was filed on behalf of investors in Azure Power Global Limited (NYSE: AZRE) shares.

An investor, who purchased shares of Azure Power Global Limited (NYSE: AZRE), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Azure Power Global Limited in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Azure Power Global Limited (NYSE: AZRE) have certain options and for certain investors are short and strict deadlines running. Deadline: October 31, 2022. NYSE: AZRE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

India based Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of renewable energy projects in India. On August 29, 2022, Azure Power Global Limited 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."

Shares of Azure Power Global Limited (NYSE: AZRE) declined from $11.20 per share on August 25, 2022, to as low as $3.26 per share on September 1, 2022.

The plaintiff claims that between June 15, 2021 and August 26, 2022, the Defendants failed to disclose to investors that there were procedural irregularities, including deviations from safety and quality standards, at one of Azure's plants, that certain project data was manipulated, that, as a result of the foregoing, the Company's internal controls and procedures were not effective, that Azure had received a credible whistleblower report alleging such misconduct, and 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.

Those who purchased shares of Azure Power Global Limited (NYSE: AZRE) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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