NYSE
ANFI

Amira Nature Foods Ltd.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Amira Nature Foods Ltd. (NYSE: ANFI)

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Central District of California on behalf of all persons or entities that purchased the common stock of Amira Nature Foods Ltd. (“Amira” or the “Company”) (NYSE: ANFI) between September 27, 2012 and February 9, 2015, inclusive, including those investors who acquired Amira shares pursuant or traceable to its initial public offering (“IPO”) commenced on October 11, 2012 (collectively, the “Class Period”), alleging violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Amira during the Class Period and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

Amira is a major international producer of packaged Indian specialty rice, with sales in over 60 countries.  The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  Specifically, the Complaint alleges that the defendants failed to disclose related party transactions and overstated revenues making the financial statements false.  As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on February 9, 2015, a third-party analyst firm issued a report highlighting the overstatement of revenues and the material related party transactions.  The report indicated that the Agricultural and Processed Food Products Export Development Authority (“APEDA”), a governing body overseeing agricultural exports in India, listed Amira as the fourteenth largest exporter of basmati rice in India.  However, according to the report, “Had Amira truly generated the revenue from Basmati exports it reported to US investors, it would have been the 4th and 5th largest exporter of basmati rice in FY’13 and FY’14, respectively[.] . . .”

On this news, shares in Amira plummeted almost 26%, closing at $9.95 per share on February 9, 2015, on heavy trading volume of over 3.6 million shares.

If you wish to serve as lead plaintiff, you must move the Court no later than April 13, 2014.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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