Eros International Plc Wins Default Judgment Against Alleged Market Manipulator Manuel Asensio
DOUGLAS, Isle of Man--(BUSINESS WIRE)--Nov 22, 2019--
Eros International Plc (NYSE: EROS) (“Eros” or “the Company”), a Global Indian Entertainment Company, today announced that on November 21 st, 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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CONTACT: Mark Carbeck
Eros International Plc
Chief Corporate and Strategy Officer
+44 207 258 9909
Sloane & Company
+1 212 446 1875
KEYWORD: EUROPE ISLE OF MAN INDIA ASIA PACIFIC
INDUSTRY KEYWORD: ENTERTAINMENT PROFESSIONAL SERVICES FILM & MOTION PICTURES FINANCE
SOURCE: Eros International Plc
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PUB: 11/22/2019 09:30 AM/DISC: 11/22/2019 09:30 AM