This investigation is for anyone who acquired securities in Eros International Plc (NYSE: EROS) from February 21, 2019 through June 11, 2019.
The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that, during the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors to believe that it could collect certain receivables when really the Company knew that it could not collect the receivables in question because the debts did not actually exist but were rather a fiction that the Company created, using undisclosed related party transactions, to hide the fact that some of its executives were embezzling funds.
On June 5, 2019, India’s second largest credit ratings agency downgraded the Company’s Indian subsidiary’s credit rating because the subsidiary was unable to collect on certain of its receivables. On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume. Then, on June 7, 2019, Hindenburg Research published an article explaining that the reason the credit agency downgraded the Company's credit rating was because of “multiple undisclosed related-party transactions that appear designed to hide receivables,” and that “a significant portion of Eros’s receivables don’t exist.” On this news, the price of the Company's stock again dropped precipitously on unusually heavy trading volume. Finally, on June 11, 2019, Moody's downgraded the Company's credit rating. On this news, the price of the Company's stock again dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Eros International Plc (NYSE: EROS) from February 21, 2019 through June 11, 2019 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
First Name: *
Last Name: *
If Representing an Institution, Name of Institution:
If Representing an Institution, Position at Institution:
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.