NEW YORK, June 18, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Eros International, Verint Systems, First American Financial, and Ebix. Our investigation concerns whether these companies have violated federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.

Eros International Plc (NYSE: EROS)

On June 5, 2019, the Company’s Indian subsidiary’s credit rating was downgraded to “Default” by India’s second largest credit ratings agency over concerns of “ongoing delays/default in debt servicing due to slowdown in collection from debtors.”

On this news, the Company’s share price fell $3.59, or nearly 49%, to close at $3.71 on June 6, 2019, thereby injuring investors.

Then, on June 7, 2019, an article published by Hindenburg Research explained that the reason for the credit downgrade was due to “multiple undisclosed related-party transactions that appear designed to hide receivables”, and that “a significant portion of Eros’s receivables don’t exist.”

On this news, the Company’s share price fell an additional $0.41, or nearly 12%, to close at $3.30 on June 7, 2019, thereby further injuring investors.

If you purchased or otherwise acquired Eros shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form.  There is no cost or obligation to you.

To learn more about the Eros investigation go to: http://bespc.com/EROS/.

Verint Systems, Inc. (NASDAQ: VRNT)

On May 23, 2019, Spruce Point Capital Management released a report titled “A Short Call Report.”  The report accuses Verint of “making up for slow growth with aggressive M&A and dubious accounting,” and highlighted a "disregard for shareholders concerns.”  Spruce Point also expressed concern over Verint’s “atrocious governance,” especially in regard to its proxy fight with Neuberger Berman, which has raised “significant red flags.”

On this news, Verint’s share price fell by more than 7%, closing at $55.49 per share on May 23, 2019.

If you purchased or otherwise acquired Verint shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form.  There is no cost or obligation to you.

To learn more about the Verint Systems investigation go to: http://bespc.com/VRNT/.

First American Financial Corporation (NYSE: FAF)

Bragar Eagel & Squire, P.C. is investigating potential claims against First American Financial Corporation (FAF) on behalf of First American stockholders.  Our investigation concerns whether First American has violated the federal securities laws and/or engaged in other unlawful business practices. On May 24, 2019, Brian Krebs of krebsonsecurity.com published a report alleging that First American may have allowed unauthorized access to more than 885 million records related to mortgage deals going back to 2003.  According to the report, First American said that it learned of a “design defect in one of its production applications that made possible unauthorized access to customer data” and has shut down external access.

On this news, First American’s share price fell by more than 6%, closing at $51.80 per share on May 28, 2019.

If you purchased or otherwise acquired First American shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form.  There is no cost or obligation to you.

To learn more about the First American Financial Investigation go to: http://bespc.com/FAF

EBIX, Inc. (NASDAQ: EBIX)

On March 1, 2018, Cherry Bekaert LLP, the Company’s outside auditor, expressed an adverse opinion about Ebix's internal controls over financial reporting.

On October 5, 2018, Ebix announced that it was replacing Cherry Bekaert LLP with a new outside auditor.  This news drove the price of Ebix shares down $14.18, or about 19.6%, to close at $57.94 on October 8, 2018.

Then, on December 11, 2018, an investigative financial research group published a report focusing on Ebix's M&A-related activity. The group reported, in part, that it had found (a) numerous accounting discrepancies regarding recognition of goodwill and acquisitions, and (b) evidence it believes demonstrates that Ebix is perpetrating a scheme to incorrectly book revenue and earnings.

News of this report drove the price of Ebix shares down $3.02, or about 6%, to close at $44.90 on December 11, 2018. Following this disclosure, Ebix’s stock price fell more than 12%.

If you purchased or otherwise acquired Ebix shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form.  There is no cost or obligation to you.

To learn more about the Ebix Investigation go to: http://bespc.com/EBIX