Television

US research firm finds Eros International accounting practises inappropriate; law firm files class action litigation

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2015/12/02/mam%20people.jpg?itok=k8_0cu0X

BENGALURU: US research firm Alpha Exposure (AE) has found Eros International Plc's accounting practises inappropriate, especially the way it amortises its films as compared to US film makers. 

By stretching its amortisation period, Eros is significantly able to reduce its expenses and hence shows higher earnings alleges AE. Through its publication seekingalpha.com, the firm had published three reports - on 30 October, 2015 titled Unlike The Name, Investors Should Not Love EROS, on 13 November, 2015 titled Eros: Is The Game Finally Over? We Think So, and on 17 November, 2015 titled Eros: A Short Story.

Based on these reports, US law firm Lieff Cabraser Heimann & Bernstein, LLP announced today that Securities fraud class action litigation has been filed on behalf of investors in Eros International Plc by it. The law firm has asked investors who have purchased or otherwise acquired the securities of Eros between 12 November, 2013 and 13 November, 2015, inclusive (the ?Class Period"), including pursuant and/or traceable to Eros's initial public offering ("IPO") on or about 12 November, 2013, they may move the court for appointment as lead plaintiff by no later than 12 January, 2016. 

The firm?s Case Center  (http://www.lieffcabraser.com/Case-Center/Eros.shtml) on its website informs investors: ?You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the action. Recognized by the National Law Journal as one of the nation's top plaintiffs' law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation."

"Eros investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.?

A summary of the 30 October, 2015 report on seekingalpha.com is listed below: 

(1) Due to aggressive accounting practices, Eros' reported earnings are significantly overstating the economic reality of its business model.

(2) Eros' subsidiary financials reveal a lack of free cash flow and raise many questions about the company?s accounting.

(3) The company has enriched its controlling family at the expense of shareholders through a series of related-party transactions.

(4) Eros Now is poorly positioned to win the battle for streaming media in India and appears to have made meaningful misstatements to investors.

(5) Based on the company's persistent negative free cash flow and growing debt and share count, we believe the stock is worthless.

The full report dated can be read at: http://seekingalpha.com/article/3621886-unlike-the-name-investors-should-not-love-eros

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/18/Mehul_Kapadia.jpg?itok=8ov9ErjP
Tata Communication, European Tour show how VR can transform golf

The European Tour and Tata Communications have completed the world’s first test of live 360° video in 8K Ultra High Definition – the highest resolution in digital television on 16 October 2018.

Television TV Channels Sports
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/18/week%2041.jpg?itok=dlmdEXYB
Kids most benefited genre in Chrome DM week 41

MUMBAI: With a growth of 0.72 per cent as compared to last week (40), the kids genre marked the highest opportunity to see (OTS) among all categories in week 41 of Chrome Data Analytics & Media. In the kids genre, Nickelodeon gained the highest OTS with 91 per cent in All India 1 Lakh+ market....

Television TV Channels Viewership
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/bb.jpg?itok=zY4XZsFs
Prepare for three months of fireworks as COLORS SUPER premieres Bigg Boss Kannada – Season 6

Television viewing has never been the same, since the introduction of reality programming kingpin

Television TV Channels Regional
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/kaal.jpg?itok=UqtRUxIk
Star Bharat brings Kaal Bhairav Rahasya 2 with a new mystery

India has had age old history associated with myths legends folklore and one of the biggest myth has been that of the curses.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/cnbc.jpg?itok=EokyIsrZ
Industry Honchos Uday Kotak, Rajnish Kumar and Kalpana Morparia come together to identify the winners of IBLA 2019

CNBC-TV18’s most-awaited marquee property, The India Business Leaders Awards will be conducting a jury meet along with an informative and insightful panel discussion on Today at Trident BKC, Mumbai, 2:30 pm.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/news.jpg?itok=DMl2reiu
News18 India Unveils Two New Shows- “Ye Desh Hai Humara” and “Akhada”

Ahead of the upcoming assembly elections in 5 states including MP & Rajasthan and general elections next year

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/allu.jpg?itok=B2FEfPB4
Zee Telugu Announces World Television Premiere of Allu Arjun starrer Naa Peru Surya

Filling this weekend with patriotism, action and drama, Zee Telugu is here with a world television premiere movie of a young man discovering himself while finding the right balance between serving his country and overcoming the hurdles thrown at him due to the power struggles in place.

Television TV Channels Regional
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/10/btvi.jpg?itok=VtXL2F1Y
BTVI endeavors to increase financial literacy across India through Money Mantra

Business Television India (BTVI), India’s Premier English Business News Channel, introduces a multicity initiative - Money Mantra which is an effort to expand the financial awareness and literacy by bringing together, personal financial experts and mutual fund experts close to the common man and...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/tv.jpg?itok=_ddlDW6X
Rural markets drive Hindi GEC FTA channels

Hindi GECs or general entertainment channels draw some of the largest eyeballs across India. “My aim is to get that extra tear from the housewife’s eyes during primetime. I want to keep her riveted to my programmes, to my channel,” the head of a cluster of channels in South India once said.

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories