Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Regulatory reporting failures and NYSE delisting
Amira failed to publish required annual reports on schedule. The NYSE suspended trading in August 2020 and permanently removed the company’s shares from listing and registration in December. The company’s delayed reporting, financial losses and going-concern warning formed a major part of its later corporate crisis.
2015
Revenue-overstatement allegations and related litigation
A short-selling firm alleged that Amira had overstated revenue. Amira denied the allegations, described the reports as false and factually inaccurate, and filed litigation against the short seller and related parties. Two proposed U.S. shareholder class actions were later consolidated; in August 2016, a federal court granted Amira’s motion to dismiss the class action. The company announced a settlement of its separate lawsuit in April 2017.