Hindi
Eros seeks to protect stakeholder interest, files case against US short-sellers
MUMBAI: Eros International Plc has filed a lawsuit in New York County Supreme Court against Mangrove Partners, Manuel P. Asensio, GeoInvesting, LLC, and numerous other individuals and entities.
Eros International Plc, which has an extensive library comprising over 3,000 Hindi, Tamil, and other regional language films, acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media.
The lawsuit alleges the defendants and other co-conspirators disseminated material false, misleading, and defamatory information about Eros and are engaging in other misconduct that has harmed the company. The lawsuit also names various “John Doe” defendants who will be identified and joined as the case unfolds, an Eros press release stated.
The complaint alleges that Mangrove Partners and many, if not all, of its co-conspirators held substantial short positions in Eros stock and profited when its share price declined in response to their multi-year disinformation campaign. Eros seeks damages and injunctive relief for defamation, trade libel, civil conspiracy, and tortious interference, including but not limited to interference with its customers, producers, distributors, investors, and lenders.
The filing of this lawsuit marks another important step in Eros’ vigorous defense of itself and the company’s stakeholders. On 25 September, 2017, Eros also reported that the United States District Court for the Southern District of New York dismissed a putative securities class action, with prejudice, that was originally filed in November 2015 and arose from a series of baseless accusations that the Eros complaint alleges were disseminated by short sellers.
The company previously announced that it retained Michael J. Bowe, a partner of Kasowitz Benson Torres LLP, to investigate and pursue all available legal remedies against those responsible for these blatant attempts at market manipulation. The counsel is continuing its investigation, the release added.
Hindi
Rashmika Mandanna, Shanaya Kapoor and Naila Grrewal climb IMDb’s Indian celebrity rankings
Upcoming films and returning shows are driving fan interest across Bollywood and streaming
MUMBAI: Bollywood’s popularity contest has a new weekly scorecard, and the numbers are telling. IMDb’s Popular Indian Celebrities list for this week places Shanaya Kapoor at number six, buoyed by buzz around her film Tu Yaa Main. Naila Grrewal slots in at seven on the back of the returning comedy series Maamla Legal Hai, while Rashmika Mandanna climbs to eighth, riding mounting anticipation for Cocktail 2.
The list, available exclusively on the IMDb app for Android and iOS, tracks trending Indian entertainers and filmmakers each week, drawing on data from more than 200m monthly visits to the platform worldwide.
Further down the rankings, Raaka is keeping two of its biggest names in the spotlight. Deepika Padukone holds 11th position, with Allu Arjun close behind at 13th, as the film continues to find traction with audiences.
The list offers fans a weekly pulse on who is breaking through, who is holding steady, and who is fading. It is a barometer as unsparing as the box office itself.
