On or around 06/24/2019 (Ongoing date of last review)
Filing Date: June 21, 2019
According to the Complaint, Eros purports to be a leading company in the Indian film entertainment industry and to co-produce, acquire and distribute Indian language films in multiple formats worldwide. Eros is incorporated in the Isle of Man.
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.
Company & Securities Information
Defendant: Eros International PLC
Industry: Motion Pictures
Headquarters: United States
Ticker Symbol: EROS
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Paul Montesano, et al. v. Eros International PLC, et al.