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OFFON

EROS STX GLOBAL CORPORATION

(ESGC)
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Eros : GPM Files Securities Class Action Lawsuit Against Eros International Plc.

11/13/2015 | 07:46pm EDT

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.


© Business Wire 2015
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Financials (USD)
Sales 2019 434 M - -
Net income 2019 -138 M - -
Net Debt 2019 250 M - -
P/E ratio 2019 -
Yield 2019 -
Capitalization 352 M 352 M -
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float 53,3%
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Managers and Directors
Robert B. Simonds Co-Chairman & Chief Executive Officer
Rishika Lulla Singh Co-President & Director
Noah Todd Fogelson Co-President & General Counsel
Andrew Carl Warren Chief Financial Officer
Kishore Kumar Lulla Executive Co-Chairman
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