NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, a global investor rights firm, announces that it is investigating potential securities claims against Amira Nature Foods, Ltd. (NYSE:ANFI) resulting from allegations that ANFI may have overstated its revenues and omitted to disclose material related-party transactions.
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 ANFI had overstated its India-produced Basmati rice revenue by at least 116.9% in 2014, citing Indian government reports on Basmati rice exports; that 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.
That day, ANFI’s stock price fell $3.45, or 25.8%, damaging investors.
The Rosen Law Firm is preparing a securities class action lawsuit on behalf of ANFI investors. If you purchased ANFI stock before February 9, 2015, please visit the website at http://rosenlegal.com/cases-506.html to join the class action or for more information. You may also contact Jonathan Horne, Esq., or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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