TypeError: fromEvent is not a function

[pratik12]

I am trying to use the plugin for local development and testing. However while running the script I am getting a type error as follows.

As a result of this the plugin reaches the step to create the s3 buckets and it halts indefinitely.

TypeError: fromEvent is not a function
      at ServerlessS3Local.subscribe (/Users/tsd073/Workspace/testProj/node_modules/serverless-s3-local/index.js:147:21)
      at Promise (/Users/tsd073/Workspace/testProj/node_modules/serverless-s3-local/index.js:236:12)
      at new Promise (<anonymous>)
      at ServerlessS3Local.startHandler (/Users/tsd073/Workspace/testProj/node_modules/serverless-s3-local/index.js:186:12)
      at BbPromise.reduce (/Users/tsd073/Workspace/testProj/node_modules/serverless/lib/classes/PluginManager.js:505:55)
      at tryCatcher (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/util.js:16:23)
      at Object.gotValue (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/reduce.js:168:18)
      at Object.gotAccum (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/reduce.js:155:25)
      at Object.tryCatcher (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/util.js:16:23)
      at Promise._settlePromiseFromHandler (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/promise.js:547:31)
      at Promise._settlePromise (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/promise.js:604:18)
      at Promise._settlePromise0 (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/promise.js:649:10)
      at Promise._settlePromises (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/promise.js:729:18)
      at _drainQueueStep (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/async.js:93:12)
      at _drainQueue (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/async.js:86:9)
      at Async._drainQueues (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/async.js:102:5)
      at Immediate.Async.drainQueues [as _onImmediate] (/Users/tsd073/Workspace/testProj/node_modules/serverless/node_modules/bluebird/js/release/async.js:15:14)
      at runCallback (timers.js:794:20)
      at tryOnImmediate (timers.js:752:5)
      at processImmediate [as _immediateCallback] (timers.js:729:5)

serverless.yml

custom:
  s3:
     port: 8001
     directory: /tmp

Resources:
  localS3Bucket:
    Type: AWS::S3::Bucket
    Properties:
      BucketName: test-bucket-local
      AccessControl: PublicRead

version of plugin "serverless-s3-local": "0.5.3"