LOS ANGELES, July 08, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Eros International Plc (“Eros” or “the Company”) (NYSE: EROS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between July 28, 2017 and June 5, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before August 20, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Eros and its executives conspired in a scheme to fabricate receivables using related-party transactions that were reported in the Company’s public financial disclosures. Due to this scheme, the Company’s financial health was significantly weaker than it appeared. The scheme resulted in the Company’s Indian subsidiary, Eros International Media Ltd, missing loan payments, which in turn led to a credit downgrade. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Eros, investors suffered damages.
Join the case to recover your losses.
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