SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Amira Nature Foods Ltd. - ANFI

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Feb 09, 2015, 08:53 ET

NEW YORK, Feb. 9, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Amira Nature Foods Ltd. ("Amira" or the "Company") (NYSE: ANFI). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.

The investigation concerns whether Amira and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On February 9, 2015, third-party analyst firm Prescience Point Research Group issued a report on ANFI (the "Prescience Report"). Among other things, the Prescience Report charged that: 1) ANFI had overstated its India-produced Basmati rice revenue by at least 116.9% in 2014, citing Indian government reports on Basmati rice exports; 2) ANFI had engaged in material related-party transactions, including with its largest distributor, one of its largest suppliers, and a company from which ANFI intended to buy $30 million of land; and that ANFI CEO Karan Chanana used company resources for personal use, including to pay salaries for household help.

On this news, shares of Amira fell $3.45 per share to $9.95, or more than 25.8%, on February 9, 2015.

The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]

SOURCE Pomerantz LLP