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 i […]
Eros International Plc [NYSE Trading Symbol: EROS, $13.99] is scheduled to host a conference call later this morning at 8:30 AM Eastern Time to discuss its reported financial results for fourth quarter and fiscal year 2016. The following are suggested issues for investors to raise with management its undisclosed “divided” audit and shifting revenue and co […]
On June 10, 2016 CNBC India interviewed Kishore Lulla, Chairman of Eros International Plc (NYSE: EROS, US$12.65). During the interview Mr. Lulla spoke regarding Skadden, Arps, Slate, Meagher & Flom LLP's ("Skadden") role in the internal review. asensio.com issued the initial report titled "Eros backs away from Skadden's independe […]
Click here to see asensio.com's letter to the Public Company Accounting Oversight Board ("PCAOB") concerning Grant Thornton International Ltd.’s (“GTIL”) correspondance pertaining to its supervision and authority over Eros International Plc’s (“EROS”) audit, and Grant Thornton India LLP's (“GTI”) "divided responsibility" audit d […]
Below is a link to a letter dated June 9, 2016 sent to the U.S. Securities & Exchange Commission ("SEC") concerning recent investor communications by Eros International Plc's (NYSE: EROS) related to Skadden, Arps and its auditor, Grant Thornton India LLP, and Grant Thornton International Ltd.'s statement concerning its role in EROS […]
The following is an analysis of Eros International Plc's (NYSE: EROS, US$13.59) investor communications concerning the potential value of ErosNow, EROS's streaming platform. An earlier version of this report contained conclusions, including an analysis of EROS's market capitalization to estimate the implied market value of ErosNow. EROS’s Exe […]
Eros International Plc’s (NYSE: EROS, US$13.84, the “Company”) stock price had a rough October in 2015. After several press release campaigns, and in a bid to stem the loss of investor confidence, on November 2, 2015, before the market opened, the Company announced that its Audit Committee had engaged Skadden, Arps, Slate, Meagher & Flom LLP (“Skadden”) […]
Below is a link to a letter dated June 07, 2016 sent to Christina Carroll, Division of Enforcement and Investigations at the Public Company Accounting Oversight Board ("PCAOB"), in relation to Grant Thornton India LLP's "divided responsibility" audit of Eros International Plc (NYSE: EROS). The PCAOB is cognisant of the inherent risk […]
Below is a link to a letter dated June 07, 2016 sent to Edward Nusbaum, CEO of Grant Thornton International Ltd., in relation to Grant Thornton India LLP's audit of Eros International PLC (NYSE: EROS). Click Here to review this letter. This letter should be viewed in conjunction with the letter sent to the Public Company Accounting Oversight Board by a […]
In January 2014 the National Bureau of Economic Research, [“NBER”] the nation's leading nonprofit economic research organization, published a behavioral finance article titled “How Constraining Are Limits to Arbitrage? Evidence from a Recent Financial Innovation.” The study identifies a "recent class of short sellers" and found that Manuel P. […]
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Manuel Asensio doesn’t bet often. But when he does, it’s wise to pay attention.
Asensio helped define “activist investor.”
The Wizards of Short-Selling
July 8, 2008
Winstar […] failed to make an interest payment on some debt, shortly before it fell into bankruptcy, as Asensio predicted.
Charles Gasparino Blood on the Street
Asensio has a remarkedly strong record in picking shorts. [….] For that talent, one company has called him ‘one of the world’s best-known short sellers.’
David A. Geracioti,
Everyone agrees [Asensio] gets results.
Thor Valdmanis, USA Today
Asensio has produced perhaps the best public record of stock calls in the business.
Zeke Ashton & Whitney Tilson,
Manuel Asensio is every investor’s best friend […] his firm scours the investment world […] in the process, Asensio has uncovered numerous cases of outright fraud.
Ludwig von Mises Institute and Indi Community News
Don’t sell this short-seller short.
Bethany McLean, Fortune
at bottom, what gives shorts an edge is sheer shoe leather. “Shoe leather” might well be Manuel Asensio’s middle name.
Asensio & Company, Inc. and Manuel P. Asensio are the only dedicated short sellers ever to have been members of FINRA. This unique-minority membership created complications in the regulatory relationship. Being the first activist short investors and among the first FINRA member firms with a website added to the complexity. A statement by Mr. Asensio is available here. Information necessary to obtain a meaningful understanding of the dispute is available in complete form HERE.
Click here to view asensio.com’s appearances on various television programs, including CNBC and Bloomberg TV. These appearances reflect asensio.com’s tradition of taking the time to engage in open meaningful dialogues including taking an active part in the public debate about investment valuation.
Asensio & Company, Inc.'s book published by John Wiley & Sons, Inc. titled "