Amira Shareholder Alert by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess ...
March 06 2015 - 10:00PM
Business Wire
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until April 13, 2015 to file lead
plaintiff applications in a securities class action lawsuit against
Amira Nature Foods Ltd. (NYSE: ANFI) if they purchased the
Company’s securities between September 27, 2012 and February 9,
2015, inclusive (the “Class Period”). This action is pending in the
United States District Court for the Central District of
California.
What You May Do
If you purchased shares of Amira 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, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve
as a lead plaintiff in this class action, you must petition the
Court by April 13, 2015.
About the Lawsuit
Amira and certain of its executives are charged with failing to
disclose material information during the Class Period, violating
federal securities laws.
The lawsuit alleges in part, that: (i) Amira fraudulently
overstated its Indian-produced basmati rice exports, thereby
overstating revenues in 2013 and 2014; (ii) Amira concealed that
many of its counterparties are secretly related parties, including
its largest customer, one of its largest suppliers, a potential
counterparty to a $30 million transaction to buy land, and over a
dozen others; (iii) Amira's Chief Executive Officer used company
money to pay his own personal household expenses, including
salaries for a personal house manager and a chef for his
farmhouse.
On February 9, 2015, Prescience Point Research Group released a
report containing these allegations. Following the report, the
price of Amira’s stock plummeted by over 25%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers
with significant experience litigating complex securities class
actions nationwide on behalf of both institutional and individual
shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLCLewis Kahn, 1-877-515-1850Managing
Partnerlewis.kahn@ksfcounsel.com
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