WILMINGTON, Del., March 4, 2015 /PRNewswire/ -- Rigrodsky
& Long, P.A.:
- Do you, or did you, own shares of Amira Nature Foods Ltd.
(NYSE: ANFI)?
- Did you purchase your shares between September 27, 2012 and February 9, 2015, inclusive?
- Did you lose money in your investment in Amira Nature Foods
Ltd.?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant
United States Attorney, Timothy J.
MacFall, announces that a complaint has been filed in the
United States District Court for the Central District of
California on behalf of all
persons or entities that purchased the common stock of Amira Nature
Foods Ltd. ("Amira" or the "Company") (NYSE: ANFI) between
September 27, 2012 and February 9, 2015, inclusive, including those
investors who acquired Amira shares pursuant or traceable to its
initial public offering ("IPO") commenced on October 11, 2012 (collectively, the "Class
Period"), alleging violations of the Securities Act of 1933 and the
Securities Exchange Act of 1934 against the Company and certain of
its officers (the "Complaint").
If you purchased shares of Amira during the Class Period and
wish to discuss this action or have any questions concerning this
notice or your rights or interests, please contact Timothy J.
MacFall, Esquire or Peter Allocco of
Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120,
Wilmington, DE 19803 at (888)
969-4242; by e-mail to info@rl-legal.com; or at:
http://www.rigrodskylong.com/investigations/amira-nature-foods-ltd-anfi.
Amira is a major international producer of packaged Indian
specialty rice, with sales in over 60 countries. The
Complaint alleges that throughout the Class Period, defendants made
materially false and misleading statements, and omitted materially
adverse facts, about the Company's business, operations and
prospects. Specifically, the Complaint alleges that the
defendants failed to disclose related party transactions and
overstated revenues making the financial statements false. As
a result of defendants' false and misleading statements, the
Company's stock traded at artificially inflated prices during the
Class Period.
According to the Complaint, on February
9, 2015, a third-party analyst firm issued a report
highlighting the overstatement of revenues and the material related
party transactions. The report indicated that the
Agricultural and Processed Food Products Export Development
Authority ("APEDA"), a governing body overseeing agricultural
exports in India, listed Amira as
the fourteenth largest exporter of basmati rice in India.
However, according to the report, "Had Amira truly generated the
revenue from Basmati exports it reported to US investors, it would
have been the 4th and 5th largest exporter of basmati rice in FY'13
and FY'14, respectively[.] . . ."
On this news, shares in Amira plummeted almost 26%, closing at
$9.95 per share on February 9, 2015, on heavy trading volume of over
3.6 million shares.
If you wish to serve as lead plaintiff, you must move the Court
no later than April 13,
2014. A lead plaintiff is a representative party
acting on behalf of other class members in directing the
litigation. In order to be appointed lead plaintiff, the
Court must determine that the class member's claim is typical of
the claims of other class members, and that the class member will
adequately represent the class. Your ability to share in any
recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. Any member of the proposed
class may move the court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
class member.
While Rigrodsky & Long, P.A. did not file the Complaint in
this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates
securities class, derivative and direct actions, shareholder rights
litigation and corporate governance litigation, including claims
for breach of fiduciary duty and proxy violations in the
Delaware Court of Chancery and in
state and federal courts throughout the
United States.
Attorney advertising. Prior results do not guarantee a
similar outcome.
CONTACT:
Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com
To view the original version on PR Newswire,
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SOURCE Rigrodsky & Long, P.A.