An investigation for investors in Eros International Plc (NYSE: EROS) shares over potential securities laws violations by Eros International Plc was announced.
San Diego, CA -- (SBWIRE) -- 06/26/2019 -- An investigation was announced over potential securities laws violations by Eros International Plc in connection with certain financial statements.
Investors who purchased shares of Eros International Plc (NYSE: EROS), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Eros International Plc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On June 5, 2019, CARE Ratings, India's second largest credit ratings agency, downgraded Eros's Indian subsidiary's credit rating to "Default," citing concerns regarding "ongoing delays/default in debt servicing due to slowdown in collection from debtors."
The next day, an article was published entitled "Eros International: On-The-Ground Research, Employee Interviews, and Private Company Documents Expose Egregious Accounting Irregularities," purported to explain the reason for the downgrade. The article alleged, among other things, that "a significant portion of Eros's receivables don't exist" and that they have documented "multiple undisclosed related-party transactions that appear designed to hide receivables."
Those who purchased shares of Eros International Plc (NYSE: EROS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in conftact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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