Bollywood Film Firm Eros Gets Some Investor Claims Trimmed

April 22, 2021, 6:34 PM

Bollywood film producer Eros International PLC is partly free of a would-be class case over its finances after a federal judge in New Jersey found some of the investors’ required mental state allegations lacking.

Investors sufficiently alleged the Indian motion picture company misled them about its general financial profile, intangible assets, and ratings agency downgrades, but only demonstrated that Eros acted knowingly or recklessly when it made statements related to the ratings, the U.S. District Court for the District of New Jersey said in an unpublished opinion.

Eros “implicitly concede[d]” that some of the alleged financial profile misstatements were ...

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