Glancy Prongay & Murray LLP (“GPM”) announces that it has
filed a class action lawsuit in the United States District Court for the
Southern District of New York on behalf of a class (the “Class”) of
purchasers of the securities of Eros International Plc (“Eros” or the
“Company”) (NYSE: EROS): (1) pursuant and/or traceable to the Company’s
Registration Statement and Prospectus (collectively, the “Registration
Statement”) issued in connection with the Company’s initial public
offering on the New York Stock Exchange on or about November 12, 2013
(the “IPO” or the “Offering”); and/or (2) between November 12, 2013 and
November 12, 2015, inclusive (the “Class Period”). Shareholders have 60
days from the date of this notice to file a motion to be appointed as
lead plaintiff in the shareholder lawsuit.
Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150, or at shareholders@glancylaw.com
to discuss this matter. If you inquire by email, please include your
mailing address, telephone number, and number of shares purchased.
Eros is in the Indian film entertainment industry. The Company
co-produces, acquires and distributes Indian language films in multiple
formats worldwide.
The Complaint alleges that throughout the Class Period, Defendants made
false and/or misleading statements and/or failed to disclose the
following: (1) the Company enriched its controlling family at the
expense of shareholders through a series of related-party transactions;
(2) the Company lacked adequate internal controls; (3) Eros overstated
the number of movies it has distributed during fiscal years 2014 and
2015; (4) Eros overstated its theatrical revenue during fiscal years
2014 and 2015; (5) the Company’s financial results and operating metrics
were overstated as a result; (6) the Company’s financial statements were
not prepared in accordance with Generally Accepted Accounting Principles
(“GAAP”); and (7) as a result of the foregoing, the Company’s financial
statements and Defendants’ statements about Eros’s business, operations,
and prospects were materially false and/or misleading at all relevant
times.
If you are a member of the Class described above, you may move the Court
no later than January 12, 2016, to serve as lead plaintiff, if you meet
certain legal requirements. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. 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, of Glancy Prongay &
Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California
90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
If you inquire by email, please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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