LOS ANGELES–(BUSINESS WIRE)–$EROS #CLASSACTION–Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf
of Eros International Plc (“Eros” or the “Company”) (NYSE: EROS)
investors concerning the Company and its officers’ possible violations
of federal securities laws.
If you are a shareholder who suffered a loss, click here to
participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.
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 Eros securities, have information, or 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 Lesley Portnoy, of GPM, 1925 Century Park East, Suite
2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number, and the number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
[email protected]
