According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business operations and prospects. Specifically, defendants failed to disclose to investors:
- there were procedural irregularities, including deviations from safety and quality standards, at one of Azure Power’s plants;
- certain project data was manipulated;
- as a result of the foregoing, the Company’s internal controls and procedures were not effective;
- Azure Power had received a credible whistleblower report alleging such misconduct; and
- as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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