SAN DIEGO, Dec. 14, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline is coming up on January 12, 2016 for certain investors to get actively involved in the lawsuit that was filed in New Jersey on behalf of certain purchasers of shares of Eros International plc (NYSE:EROS) over alleged Securities Laws Violations by Eros International.
Investors who have losses in excess of $100,000 from their investment between June 17, 2014 and October 30, 2015 in shares of Eros International plc (NYSE:EROS) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that between June 17, 2014 and October 30, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that: (i) the Company’s reported earnings significantly overstated the economic viability of Eros’s business model; (ii) the Company’s accounting policy for amortization was unjustifiably aggressive in light of the impact of piracy on the long-term value of Eros’s assets; (iii) despite the Company’s reported profitability, Eros generates no cash; (iv) Eros has only been able to stay afloat by issuing stock and taking on debt; (v) Eros significantly overstated the number of movies the Company distributed and the Company’s theatrical revenues during fiscal years 2014 and 2015; and (vi) as a result of the foregoing, Eros’s public statements were materially false and misleading at all relevant times.
On October 30 2015, a report was published on Eros International plc asserting, among other things, that Eros International’s reported earnings are significantly overstating the economic reality of its business model, that Eros International’s subsidiary financials reveal a lack of free cash flow and raise many questions about the company’s accounting, and that Eros International plc has enriched its controlling family at the expense of shareholders through a series of related-party transactions.
Those who have losses in excess of $100,000 from their investment in NYSE:EROS shares between June 17, 2014 and October 30, 2015 should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.