GECs
US research firm finds Eros International accounting practises inappropriate; law firm files class action litigation
BENGALURU: US research firm Alpha Exposure (AE) has found Eros International Plc’s accounting practises inappropriate, especially the way it amortises its films as compared to US film makers.
By stretching its amortisation period, Eros is significantly able to reduce its expenses and hence shows higher earnings alleges AE. Through its publication seekingalpha.com, the firm had published three reports – on 30 October, 2015 titled Unlike The Name, Investors Should Not Love EROS, on 13 November, 2015 titled Eros: Is The Game Finally Over? We Think So, and on 17 November, 2015 titled Eros: A Short Story.
Based on these reports, US law firm Lieff Cabraser Heimann & Bernstein, LLP announced today that Securities fraud class action litigation has been filed on behalf of investors in Eros International Plc by it. The law firm has asked investors who have purchased or otherwise acquired the securities of Eros between 12 November, 2013 and 13 November, 2015, inclusive (the “Class Period”), including pursuant and/or traceable to Eros’s initial public offering (“IPO”) on or about 12 November, 2013, they may move the court for appointment as lead plaintiff by no later than 12 January, 2016.
The firm’s Case Center (http://www.lieffcabraser.com/Case-Center/Eros.shtml) on its website informs investors: “You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the action. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.”
“Eros investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.”
A summary of the 30 October, 2015 report on seekingalpha.com is listed below:
(1) Due to aggressive accounting practices, Eros’ reported earnings are significantly overstating the economic reality of its business model.
(2) Eros’ subsidiary financials reveal a lack of free cash flow and raise many questions about the company’s accounting.
(3) The company has enriched its controlling family at the expense of shareholders through a series of related-party transactions.
(4) Eros Now is poorly positioned to win the battle for streaming media in India and appears to have made meaningful misstatements to investors.
(5) Based on the company’s persistent negative free cash flow and growing debt and share count, we believe the stock is worthless.
The full report dated can be read at: http://seekingalpha.com/article/3621886-unlike-the-name-investors-should-not-love-eros
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
