Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action against Amira Nature Foods Ltd. and Lead Plaintiff Deadline April 13, 2015.
NEW YORK, April 2, 2015 /PRNewswire/ -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed in the United States District Court for the Central District of California on behalf of those who purchased shares of Amira Nature Foods Ltd. ("Amira" or the "Company") (NYSE:ANFI), during the period between September 12, 2012 and February 9, 2015 inclusive. (the "Class Period").
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, and failed to disclose material adverse facts about the Company's business, operations, prospects and performance. Specifically, during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose related party transactions and overstatement of revenues, rendering its financial statements false.
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, and one of its largest suppliers; and that 3) ANFI CEO Karan Chanana used company resources for personal use, including to pay salaries for household help.
Following this news, shares of Amira fell $3.45 per share to $9.95, or more than 25.8%, on February 9, 2015.
Plaintiff seeks to recover damages on behalf of all shareholders who purchased shares of Amira during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Amira you have until April 13, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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