EROS INVESTIGATION ALERT: Hagens Berman Alerts Eros International Plc (EROS) Investors to the Firm’s Investigation of Possible Disclosure Violations, Encourages Investors Who Suffered Losses to Contact the Firm
San Francisco - Hagens Berman Sobol Shapiro LLP, with nine offices in eight cities around the country and eighty attorneys, alerts investors in Eros International Plc. (NYSE: EROS) to the firm’s investigation into possible disclosure violations.
If you purchased or otherwise acquired Eros securities, suffered losses, and wish to learn more about the investigation or have knowledge of facts that may assist the firm’s investigation contact Hagens Berman:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
On June 5, 2019, Eros’s Indian subsidiary’s debt suffered a severe downgrade due to “ongoing delays/default in debt servicing due to a slowdown in collection from debtors.” Then, on June 7, 2019, Hindenburg Research released a report explaining that the credit downgrade was due to “multiple undisclosed related-party transactions that appear designed to hide receivables,” and that “a significant portion of Eros’s receivables don’t exist.”
This news caused Eros’s shares to lose over 55% of its value in just two trading sessions, wiping out $250 million in market capitalization.
“We’re focused on investors’ losses, the accuracy of Eros’s financial reporting, and whether investors may have been misled,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding EROS should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email EROS@hbsslaw.com.
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Reed Kathrein, 510-725-3000
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