Eros STX Global Corporation Announces Settlement Agreement with Manuel Asensio

DOUGLAS, Isle of Man & BURBANK, Calif.--(BUSINESS WIRE)--Eros STX Global Corporation (“ErosSTX” or the “Company”) (NYSE: ESGC), a global entertainment company, is pleased to announce today that it has reached a settlement favorably resolving all matters with Manuel P. Asensio, Asensio & Company, Inc., and Mill Rock Advisors, Inc.

As previously disclosed, on September 29, 2017, Eros International Plc, a predecessor of ErosSTX, filed a lawsuit in New York state court against Mr. Asensio, a well-known short-seller, and several of his companies in connection with statements that Mr. Asensio made or caused to be made that were critical of Eros.

Mr. Asensio states, “The five-year-old statements are in the past and have no applicability to the existing Eros entities or their leadership. I withdraw them and wish ErosSTX well in the future.”

The case was settled for an undisclosed sum. Neither ErosSTX nor Mr. Asensio intends to comment further on the settlement.

About Eros STX Global Corporation:
Eros STX Global Corporation, (“ErosSTX”) (NYSE: ESGC) is a global entertainment company that acquires, co-produces and distributes films, digital content & music across multiple formats such as theatrical, television and OTT digital media streaming to consumers around the world. Eros International Plc changed its name to Eros STX Global Corporation pursuant to the July 2020 merger with STX Entertainment, merging two international media and entertainment groups. The combination of one of the largest Indian OTT players and premier studio with one of Hollywood’s fastest-growing independent media companies has created an entertainment powerhouse with a presence in over 150 countries. ErosSTX delivers star-driven premium feature film and episodic content across a multitude of platforms at the intersection of the world's most dynamic and fastest-growing global markets, including US, India, Middle East, Asia and China. The company also owns the rapidly growing OTT platform Eros Now which has rights to over 12,000 films across Hindi and regional languages and had 211.5 million registered users and 36.2 million paying subscribers as of September 30th, 2020. For further information, please visit ErosSTX.com.