The Pomerantz law firm is investigating claims

The Pomerantz law firm is investigating claims


NEW YORK, Oct. 30, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Azure Power Global Limited (“Azure” or the “Company”) (NYSE: AZRE). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Azure and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On August 29, 2022, Azure issued a press release disclosing, among other things, that “[t]The company received a whistleblower complaint in May 2022 alleging potential procedural irregularities and misconduct by certain employees at a facility of one of its subsidiaries.” Azure further reported that “[a]As part of the company’s review of these claims, it has discovered deviations from safety and quality standards and has implemented mechanisms to address them, thereby strengthening safety and quality protocols. Azure’s audit committee, with the assistance of legal counsel and forensic accounting, also identified evidence of manipulation of project data and information by certain employees. The company is implementing immediate remedial actions and Azure is initiating disclosure of the results to the relevant authorities.” On the news, Azure’s share price fell $4.61 per share, or 44.07 percent, to close at 5 on August 29, 2022 $.85 per share.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of the victims of…

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