BOSTON, Nov. 11, 2015 /PRNewswire/ -- Eros International Plc ("Eros" or the "Company") (NYSE: EROS) is being investigated by Block & Leviton, a Boston-based law firm representing investors nationwide, following a significant drop in the Company's stock price on the news that Eros has overstated its revenue and the number of films it has distributed over the last two years.
On Tuesday, the website Seeking Alpha, following up on its October 30 publication about the Company, reported that Eros "has overstated its theatrical revenue by 82% and 104% during fiscal years 2014 and 2015, respectively" and "overstated the number of movies it has distributed by 124% and 200% during fiscal years 2014 and 2015, respectively."
On this news, the Company's stock price fell more than 31% to close at $8.25 on Wednesday, resulting in a loss of more than $100 million in the Company's market capitalization.
If you purchased or otherwise acquired Eros securities on or before November 10, 2015, and have questions about your legal rights or possess information relevant to this investigation, please contact either attorney Steven Harte at (617) 398-5600 or by email at Steven@blockesq.com or attorney Brad Vettraino at (617) 398-5600 or by email at Bradley@blockesq.com. Confidentiality to whistleblowers or others with relevant information is assured.
Block & Leviton represents investors affected by violations of securities laws as well as whistleblowing employees who provide information about their employers' violations of law throughout the country. The firm's lawyers have collectively been prosecuting securities cases for over 70 years, have recovered billions of dollars for investors and represent some of the nation's largest institutional investors.
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Contact: BLOCK & LEVITON LLP Steven Harte 155 Federal St Boston MA 02110 (617) 398-5600 Steven@blockesq.com
SOURCE Block & Leviton LLP