Azure Power Global Limited Stock Alert
Azure Power Investors With Losses Greater Than $50,000 Are Encouraged to Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating claims on behalf of investors of Azure Power Global Limited (“Azure Power Global” or the “Company”) (NYSE: AZRE) to determine whether the Company violated securities laws or engaged in other unlawful business practices.
INVESTORS OF AZURE POWER GLOBAL STOCK ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR AZRE STOCK HOLDINGS.
On August 29, 2022, the Company reported that it “. . . 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.”
The Company also 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.”
Further, the Company’s recently appointed CEO resigned unexpectedly after joining Azure Power Global two months earlier in July 2022.
Azure Power Global’s stock price was down more than 40% during intraday trading on August 29, 2022.