Azure Power settles US securities lawsuit, deposits USD 23 million in escrow account
Homegrown Azure Power on Tuesday said it has settled a securities law violation lawsuit filed in the US by depositing USD 23 million into an escrow account.
In a statement on Tuesday, Azure Power said it has resolved the lawsuit in the US.
“As Azure Power Global previously disclosed, a class action lawsuit was filed in the US District Court for the Southern District of New York, case number 1:22-cv-07432, against the company and certain of its former directors and officers, alleging violations of US securities laws,” it said.
