PHILADELPHIA, June 24, 2019 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. announces that a class action lawsuit has been filed against Eros International PLC (“Eros” or the “Company”) (NYSE: EROS) on behalf of purchasers of the securities of Eros from July 28, 2017 through June 5, 2019, inclusive (the “Class Period”). The class action lawsuit seeks to recover damages for Eros shareholders under the federal securities laws.
If you purchased Eros securities and suffered damages, please click Join a Securities Class Action or contact either John Kehoe, Esq., (215) 792-6676, Ext. 801, jkehoe@kehoelawfirm.com, or Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, myarnoff@kehoelawfirm.com, info@kehoelawfirm.com, to learn more about the class action lawsuit. Pivotal investors have until August 20, 2019 to move the Court to serve as lead plaintiff. Investors have until August 20, 2019 to move the Court to serve as lead plaintiff.
According to the class action complaint, the Eros
. . . Defendants made false and/or misleading statements and/or failed to disclose that: (1) Eros and its executives engaged in a scheme to use related-party transactions to fabricate receivables that they reported in Eros’s public financial disclosures; (2) because of this scheme, Eros’s financial position was weaker than what Eros disclosed; (3) consequently, the Company’s Indian subsidiary, Eros International Media Ltd . . ., missed loan payments and had its credit downgraded; and (4) due to the foregoing, Defendants’ statements about Eros’s receivables, business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. [Emphasis added.]
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.