NEW YORK, NY / ACCESSWIRE / August 30, 2022 / Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Azure Power Global Limited ("Azure Power" or the "Company") (NYSE:AZRE).
If you suffered losses exceeding $50,000 investing in Azure Power stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/AZRE.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On August 29, 2022, Azure issued a press release disclosing, among other items, that "[t]he Company 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." Azure further reported that "[a]s part of the Company's review of these allegations, it discovered deviations from safety and quality norms, and it has implemented mechanisms to remediate them and in so doing strengthen safety and quality protocols. Azure's Audit Committee, with the assistance of legal counsel and forensic accounting support, also identified evidence of manipulation of project data and information by certain employees. The Company is implementing immediate remedial measures, and Azure is initiating disclosure of the findings to the appropriate authorities."
On this news, Azure's stock price fell sharply during intraday trading on August 29, 2022.
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SOURCE: Faruqi & Faruqi, LLP