Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 31, 2022 to file lead plaintiff applications in a securities class action lawsuit against Azure Power Global Limited (“Azure” or the “Company”) (NYSE: AZRE), if they purchased the Company’s securities between June 15, 2021 and August 26, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased or acquired securities of Azure and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-azre/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by October 31, 2022.
About the Lawsuit
Azure and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 29, 2022, the Company disclosed that its Chief Executive Officer had resigned, less than two months after his appointment and 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, shares of Azure declined by $4.61 per share, or approximately 44.07%, from $10.46 per share to close at $5.85 on August 29, 2022.
The case is Gilbert v. Azure Power Global Limited, No. 22-cv-7432.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221028005478/en/
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
