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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 20, 2019 to file lead plaintiff applications in a securities class action lawsuit against Eros International Plc (NYSE: EROS).
Eros and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On June 5, 2019, India’s second largest credit ratings agency, CARE Ratings, downgraded the Company’s Indian subsidiary’s credit rating to “Default” due to “ongoing delays/default in debt servicing due to slowdown in collection from debtors.” Then, on June 6, 2019, the Company issued a press release admitting that its subsidiary was late on two loan interest payments for April and May 2019.
On this news, the price of Eros’ shares plummeted over 49%.
If you purchased securities of Eros International Plc 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, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Montesano v. Eros International PLC, 19-cv-14125. Click here to read the case complaint.