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News & Insights

SEC Closes Investigation into Eros Media World plc and Affiliates; Internal Investigation Reveals No Wrongdoing

January 23, 2025

On January 22, 2025, Eros Media World plc, a global media and entertainment company, announced that its internal review of certain accounting practices and internal controls has been concluded, with the Audit Committee determining that no revenues of the Company recognized during the fiscal year ended March 31, 2020, were inappropriately recognized, and finding no impairment in the intangible assets and goodwill reflected on the Company’s Form 6‑K dated March 31, 2021. In addition, the Audit Committee found no material weaknesses in internal controls over financial reporting.

Furthermore, Eros Media World plc announced that the investigation opened by the United States Securities and Exchange Commission (“SEC”) into the above subject matters, among other issues, has been closed, with the SEC not recommending an enforcement action against the Company, or any of its affiliates, officers or employees. Cravath represented Eros Media plc in connection with the investigation and related matters.

The Cravath team included partner Rachel G. Skaistis, of counsel Jenny X. Zhang and associate Kathleen E. Young.

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  • Litigation
  • Investigations and Regulatory Enforcement
  • Media and Entertainment

People

Photo
Name
Rachel G. Skaistis
Title
Litigation
Title
Partner
Email
rskaistis@cravath.com
Phone
+1-212-474-1934
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    Education

    • J.D., 1997, Cornell Law School
      cum laude
    • B.A., 1992, Yale College

    Admitted In

    • New York
    Photo
    Name
    Jenny X. Zhang
    Title
    Litigation
    Title
    Of Counsel
    Email
    jzhang@cravath.com
    Phone
    +1-212-474-1563
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      Education

      • J.D., 2009, New York University School of Law
      • B.A., 2006, Yale College
        Graduated with distinction; Percival W. Clement Prize; Pi Sigma Alpha

      Admitted In

      • New York

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