SAN FRANCISCO, Aug. 13, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Eros International PLC (NYSE: EROS) of the August 20, 2019 Lead Plaintiff deadline in the securities class action, Montesano v. Eros International PLC et al., No. 2:19-cv-14125, filed in the U.S. District Court for the District of New Jersey.

If you invested in Eros between July 28, 2017 and June 5, 2019 (the “Class Period”) and suffered significant losses (in excess of $50,000), you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. 

If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than August 20, 2019 (the “Lead Plaintiff Deadline”).  Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:

https://www.hbsslaw.com/cases/EROS

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing

EROS@hbsslaw.com.

According to the complaint, Defendants misled investors by concealing (1) multiple related-party transactions that appear designed to hide receivables, and (2) many of Eros’s reported receivables do not actually exist.

Recently, on July 31, 2019, Eros announced it would not timely file its annual report and blamed the delay on requiring additional time to finalize the auditors’ report on effectiveness of Eros’ internal controls over financial reporting.

“We’re focused on investors’ losses and the extent to which Defendants may have misled investors about the economic substance of certain Company transactions and the sufficiency of internal controls over financial reporting,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding Eros should consider their options to help in the lawsuit or take advantage of the SEC Whistleblower program.  Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email EROS@hbsslaw.com.

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Contact:
Reed Kathrein, 510-725-3000