| COMPANY |
Eros International plc |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
19-cv-014125 |
| JUDGE |
The Hon. John Michael Vazquez |
| CLASS PERIOD |
July 28, 2017 - September 25, 2019 |
| SECURITY TYPE |
All Securities |
Case Background:
On June 21, 2019, the initial complaint in this securities class action was filed against Eros International plc (“Eros” or the “Company”), and certain of Eros’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint 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 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.
This is a class action on behalf of persons and entities that purchased or otherwise acquired Eros securities between July 28, 2017 and September 25, 2019, inclusive.
Current Status of Case:
Lead Plaintiff filed a consolidated Complaint (the “Complaint”) on July 1, 2020. Defendants filed a motion to dismiss the Complaint on August 28, 2020. On April 20, 2021 the Defendants’ Motion to Dismiss was granted in part and denied in part. Lead Plaintiffs were given leave to file an amended complaint within30 days.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.