LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of Amira Nature Foods Ltd. (“Amira Nature Foods” or the “Company”) (NYSE:ANFI) concerning possible violations of federal securities laws. The investigation is focused on certain statements issued by Amira Nature Foods concerning the Company’s business and financial performance.
Please contact Casey Sadler at (888) 773-9224 or (310) 201-9150, or at firstname.lastname@example.org to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
Amira Nature Foods is a Dubai-based company engaged in processing, distributing and marketing packaged specialty rice and other food products. The investigation is related to allegations that the Company misrepresented its business and financial performance and failed to disclose material related-party transactions.
On February 9, 2015, a report by the analyst firm Prescience Point Research Group alleged that, according to Indian government reports on Basmati rice exports, Amira Nature Foods had overstated its India-produced Basmati rice revenue by more than 116% in 2014. The report also alleged that Amira Nature Foods engaged in material related-party transactions, including with a company from which it intended to buy $30 million of land, and the Company's chief executive officer used Company resources for personal use, including to pay salaries for household help. Following this news, shares of Amira Nature Foods declined more than 25% on February 9, 2015, to a closing price of $9.95 per share on unusually heavy volume.
If you purchased Amira Nature Foods securities, if you 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 Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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