NEW YORK, Feb. 11, 2015 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of investors in Amira Nature Foods Ltd. ("Amira") common stock (NYSE: ANFI) during the period September 27, 2012 through February 9, 2015. Such investors are advised to contact Fei-Lu Qian at 877.370.7703 or fqian@wolfpopper.com.
On February 9, 2015, Prescience Point Research Group issued a report concluding that Amira, among other things, had overstated its India-produced Basmati rice revenue by 146% in fiscal 2013 and 116.9% in 2014, citing reports on Basmati rice exports by the Indian government. In addition, the report alleged that Amira had engaged in a related-party transaction with one of its largest distributors.
On this news, Amira common stock plummeted $3.45 per share or more than 25%, to close at $9.95 per share on February 9, 2015. The next trading day, the stock declined an additional $1.45 per share, or 14.5%, to close at $8.50 per share, on February 10, 2015.
Wolf Popper LLP has extensive experience representing shareholders in securities class actions and has successfully recovered billions of dollars for defrauded investors. The reputation and expertise of the firm in representing shareholders has been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com
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Wolf Popper LLP
Fei-Lu Qian
845 Third Avenue
New York, NY 10022
Tel.: 877.370.7703
Fax: 877.370.7704
Email: fqian@wolfpopper.com
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SOURCE Wolf Popper LLP