NEW YORK, March 3, 2015 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in Amira Nature Foods Ltd. ("Amira" or the "Company") (NYSE: ANFI ) of the April 13, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Amira and certain executives and directors.
A complaint has been filed in the Central District of California on behalf of all persons who purchased or otherwise acquired Amira securities pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with Amira's initial public offering ("IPO") or purchased or otherwise acquired Amira common stock from September 27, 2012 to February 9, 2015, inclusive (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Amira issued false and misleading statements regarding (i) the Company's rice revenue for the fiscal years 2013 and 2014; and (ii) the Company's engagement in material related-party transactions.
On February 9, 2015, a report was issued by Prescience Point Research Group alleging that (i) Amira was overstating the Company's rice revenue by over 100% in the fiscal years 2013 and 2014; (ii) Amira was engaging in material related-party transactions; and (iii) the Chief Executive Officer of Amira had used Company resources for personal gain.
Following this news, Amira shares declined by $3.45 per share, more than 25%, closing on February 9, 2015 at $9.95 per share.
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Take Action
If you invested in Amira stock or options purchased or otherwise acquired Amira securities pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with Amira's IPO or purchased or otherwise acquired Amira common stock from September 27, 2012 to February 9, 2015, visit www.faruqilaw.com/ANFI . You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Amira's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw .
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