Kirby McInerney Announces Investigation of Shareholder Claims Against Azure Power Global
The law firm of Kirby McInerney LLP is investigating potential claims against Azure Power Global Limited.
August 31, 2022. By News Bureau
The investigation concerns whether Azure and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
Azure is an independent solar power producer that designs, constructs, maintains, and operates solar energy projects.
Azure announced the resignation of its Chief Executive Officer, 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.'
On this news, the price of Azure shares declined by $4.61 per share, or approximately 44.07%, from $10.46 per share to close at $5.85 on August 29, 2022.
please contact: contact@energetica-india.net.
Aman Mehtani
Founder & Group CEO
ADM Group Offers Smart, Sustainable Solutions for Global Automotive Industry
Gaurav Dolwani
CEO
From Scrap to Sustainability: LICO Materials’ Circular Economy Approach
Gaurav Kumar
Head of Supply Chain and Manufacturing
Euler Motors Bridges Cost Gap Between EVs and ICE Vehicles with Localization
Shveta Arya
India Region Leader
Powering India’s Mobility Future: Cummins Showcases Advanced Power Solutions at Bharat Mobility
Samkit Shah
Co-Founder
Jitendra EV Leading Hybrid EV Revolution with Hydrix