Bragar Eagle & Squire, PC is reminding investors of this class action lawsuit

Bragar Eagle & Squire, PC is reminding investors of this class action lawsuit


NEW YORK, Oct. 06, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits have been initiated on behalf of shareholders of Azure Power Global Limited AZREAbbott Laboratories AWAYTuSimple Holdings, Inc. TSPand Kohl’s Corporation KSS. Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

Azure Power Global Limited AZRE

Class Period: June 15, 2021 – August 26, 2022

Lead Plaintiff Deadline: October 31, 2022

On August 29, 2022, Azure announced the resignation of its CEO, less than two months after his appointment. The company also announced that it “received a whistleblower complaint in May 2022 alleging potential procedural irregularities and misconduct by certain employees at a facility of one of its subsidiaries.” During the company’s review of these allegations, Azure “discovered deviations from security and quality standards” and “also identified evidence of manipulation of project data and information by certain employees.”

As a result of this news, the company’s stock fell $4.61, or 44%, on unusually high trading volume to close at $5.85 per share on August 29, 2022.

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to the investors: (1) that there were procedural irregularities at one of Azure’s plants, including deviations from safety and quality standards; (2) that certain project data has been tampered with; (3) that as a result of the foregoing, the Company’s internal controls and procedures were not effective; (4) that Azure has received a credible whistleblower report alleging such misconduct; and (5) that as a result of…

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