NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder rights litigation firm, has commenced an investigation into Amira Nature Foods, Ltd. (NYSE:ANFI) (“Amira” or the “Company”) relating to potential violations of federal securities laws. If you purchased shares of Amira common stock between October 11, 2012 and February 9, 2015, you are encouraged to contact Scott+Scott for additional information.
Amira is a British Virgin Islands corporation that is headquartered in Dubai, United Arab Emirates. The Company processes, distributes, markets, and sells Basmati rice and other food products.
On February 9, 2015, Prescience Point Research Group released a report alleging that Amira overstated its revenues and failed to disclose numerous and substantial related-party transactions. Among other potential misconduct, the report contends that Amira overstated its India-produced Basmati rice revenues by approximately 145% and 117% in 2013 and 2014, respectively, and that the Company engaged in material, undisclosed related party transactions, some of which allegedly benefited the Company’s chief executive officer and his family at the expense of shareholders. After this report was released, the price of Amira stock fell over 25%, or $3.45, in just one day of trading.
What You Can Do
If you are purchased shares of Amira common stock between October 11, 2012 and February 9, 2015, you may have legal claims against Amira and/or its Officers and Directors. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joseph Halloran at (800) 404-7770 or (646) 582-0121 or via email at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.