NEW YORK, Aug. 17, 2019 /PRNewswire/ -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all investors that purchased Eros International Plc securities between July 28, 2017 and June 5, 2019 (the "Class Period"). Investors have until August 20, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint, filed on June 21, 2019, alleges that throughout the Class Period 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 the Company 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you purchased Eros securities during the Class Period or continue to hold shares purchased before the Class Period, 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 [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Eros lawsuit, please go to https://bespc.com/eros-2. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.