BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Eros International Plc (“Eros” or the “Company”) (NYSE: EROS) concerning the Company’s and its officers’ possible violations of federal securities laws.
On October 30, 2015, Seeking Alpha published a report on the Company. The report alleged that “due to aggressive accounting practices, Eros' reported earnings are significantly overstating the economic reality of its business model” and that the Company’s subsidiary financials “reveal a lack of free cash flow and raise many questions about the company’s accounting.” The report also alleges that management engaged in related-party transactions and the Company “appears to have made meaningful misstatements to investors.”
On this news, Eros shares fell $1.69, or more than 13%, to close at $11.17 per share on October 30, 2015, thereby injuring investors.
If you purchased Eros securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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