Eros International Plc Wins Default Judgment Against Alleged Market Manipulator Manuel Asensio
23 November 2019 - 1:30AM
Business Wire
Eros International Plc (NYSE: EROS) (“Eros” or “the Company”), a
Global Indian Entertainment Company, today announced that on
November 21st, the Supreme Court of the State of New York granted
Eros’ motion for default judgment against Manuel P Asensio.
As previously disclosed, on September 29, 2017, the Company
filed a lawsuit against Mangrove Partners, Manuel P. Asensio,
GeoInvesting, LLC, and other individuals and entities alleging the
defendants disseminated material false, misleading, and defamatory
information about the Company and are engaging in other misconduct
that has harmed the Company. The Company seeks damages and
injunctive relief for defamation, civil conspiracy, and tortious
interference, including but not limited to interference with its
customers, producers, distributors, investors, and lenders. On
February 23, 2018, the Supreme Court of the State of New York
granted Eros’ motion for default judgment against two entities
associated with Mr. Asensio—Asensio & Company, Inc., and Mill
Rock Advisors, Inc. (together with Mr. Asensio, “the Asensio
Defendants”). On March 12, 2019, the Supreme Court of the State of
New York entered a Decision and Order granting certain defendants’
motions to dismiss. On March 13, 2019, the Company filed a Notice
of Appeal and the matter is ongoing.
The Supreme Court has ordered that Eros shall conduct an inquest
before a Referee on damages as to the Asensio Defendants once its
claims against all other Defendants are fully resolved and all
appeals exhausted.
About Eros International
Plc
Eros International Plc (NYSE: EROS) a Global Indian
Entertainment company 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 for home entertainment distribution. The Company also owns
the rapidly growing OTT platform Eros Now. For further information,
please visit: www.erosplc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191122005298/en/
Mark Carbeck Eros International Plc Chief Corporate and Strategy
Officer +44 207 258 9909 mark.carbeck@erosintl.com
Media: Erica Bartsch Sloane & Company +1 212 446 1875
ebartsch@sloanepr.com
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