asensio.com Releases Letters to Skadden and Foley on Eros’s Financial Disclosures

New York, NY.  asensio.com today released copies of its letters to Skadden, Arps, Slate, Meagher & Flom LLP (“Skadden”) and Foley and Lardner LLP (“Foley”) concerning Eros International Plc.’s [NYSE Trading Symbol: EROS, $13.99] financial reporting controversy.

The letter to Skadden pertains to changes EROS has made to reports on Skadden’s role in its internal review. The letter to Foley replies to Grant Thornton India LLP’s comments on Eros’s multi-level “divided responsibility” audit and requests information on EROS’s reported United Arab Emirates (“UAE”) revenues.

A report titled “EROS: Suggested Investor Questions on UAE Financial Reporting” that includes a spreadsheet analysis of Eros’s professed UAE’s revenues is available by clicking here.

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asensio.com has been publishing investigative research concerning short investments since June 4, 1996.  asensio.com’s reporting strives to provide the most accurate facts and analysis available concerning the companies that are the subjects of our research.  It is the first website exclusively devoted to the idea that contrarian investment news and research should be available to the public to enhance the market’s price discovery process. For over two decades, asensio.com’s research has intersected with many major market events and significant regulatory upheavals. The National Bureau of Economic Research [“NBER”], the nation’s leading non-profit economic research organization, published a behavioural finance article finding Manuel P. Asensio to be the Pioneer of “information producers as arbitrageurs.”

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