EROS INTERNATIONAL SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Eros International Plc - EROS
NEW ORLEANS, June 26, 2019 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 20, 2019 to file lead plaintiff applications in a securities class action lawsuit against Eros International Plc (NYSE: EROS), if they purchased the Company's securities between July 28, 2017 and June 5, 2019, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of New Jersey.
What You May Do
If you purchased securities of Eros International Plc and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-eros/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 20, 2019.
About the Lawsuit
Eros and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On June 5, 2019, India's second largest credit ratings agency, CARE Ratings, downgraded the Company's Indian subsidiary's credit rating to "Default" due to "ongoing delays/default in debt servicing due to slowdown in collection from debtors." Then, on June 6, 2019, the Company issued a press release admitting that its subsidiary was late on two loan interest payments for April and May 2019.
On this news, the price of Eros' shares plummeted over 49%.
The case is Montesano v. Eros International Plc, 19-cv-14125.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC
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