Unite with Fellow Investors
Choose the Best Attorney
Follow Case Progress
id: 217, Created by Stan Vick, Scout
Azure Power Global Ltd
What do I get by joining?
- You will get case updates and receive a payout in case of success
- If you would like to actively participate, you will be connected to the attorney
- No, you do not pay anything out of your pocket neither to us nor to attorney
S.D. New YorkCourt
On August 29, 2022, the Company disclosed among other things 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. As 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."
On this news, Azur's stock price fell by 44% and the company lost almost $ 300 million of its capitalization, seriously damaging investors.
Failure to Disclose,
Shock Event Date
29 August 2022