NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 13, 2015 to file lead plaintiff applications in a securities class action lawsuit against Amira Nature Foods Ltd. (NYSE: ANFI) if they purchased the Company’s securities between September 27, 2012 and February 9, 2015, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased shares of Amira 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, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 13, 2015.
About the Lawsuit
Amira and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The lawsuit alleges in part, that: (i) Amira fraudulently overstated its Indian-produced basmati rice exports, thereby overstating revenues in 2013 and 2014; (ii) Amira concealed that many of its counterparties are secretly related parties, including its largest customer, one of its largest suppliers, a potential counterparty to a $30 million transaction to buy land, and over a dozen others; (iii) Amira's Chief Executive Officer used company money to pay his own personal household expenses, including salaries for a personal house manager and a chef for his farmhouse.
On February 9, 2015, Prescience Point Research Group released a report containing these allegations. Following the report, the price of Amira’s stock plummeted by over 25%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.