Eros International Plc Announces Dismissal of Class Action Lawsuit
September 25 2017 - 9:45AM
Business Wire
Eros International Plc (NYSE: EROS) (“Eros”), a leading
global company in the Indian film entertainment industry, today
announced that the United States District Court for the Southern
District of New York has dismissed, with prejudice, the putative
securities class action that was originally filed in November 2015
against Eros and certain of its officers and directors.
Eros previously reported that, on July 14, 2016, the
Court-appointed lead plaintiffs filed a consolidated complaint, and
subsequently amended that pleading on October 10, 2016. The amended
complaint alleged that the Company and certain individual
defendants violated Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934. The Court’s Memorandum and Order rejects both
of these claims and does not provide plaintiffs with leave to
amend.
About Eros International Plc
Eros International Plc (NYSE: EROS) is a leading global
company in the Indian film entertainment industry that acquires,
co-produces and distributes Indian films across all available
formats such as cinema, television and digital new media. Eros
International Plc became the first Indian media company to
list on the New York Stock Exchange. Eros
International has experience of over three decades in
establishing a global platform for Indian cinema. The Company has
an extensive and growing movie library comprising of over 3,000
films, which include Hindi, Tamil, and other regional language
films. The company also owns the rapidly growing OTT platform Eros
Now. For further information please visit: www.erosplc.com
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Eros International PlcMark Carbeck, +44 (207) 258 9909Chief
Corporate & Strategy OfficerMark.Carbeck@erosintl.comorSloane
& CompanyErica Bartsch, 212-446-1875ebartsch@sloanepr.com
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