Anyone who waited for EBIX management to respond to the latest diatribe against the company had to be severely disappointed with today's press release. If this is the best that they could do, then why bother. EBIX needs to quickly hire a top notch public relations firm, get rid of the inept investor relations person, and replace its chief executive officer. Robin Raina may not care about the company's loss of value, but I would bet that all other individual shareholders do. It is time to stop hemming and hawing and start doing something meaningful.
They really can't engage in a public relations battle with a firm like Gotham. Regarding doing something meaningful, they need to operate the business first.
You might be interested to hear that the court has tentatively thrown out the class action lawsuits. They are still arguing and hope to proceed but that is where it stands today. It is possible that the Judge could throw it out permanently any day now although if the decision came down that way it would certainly be appealed. Then again if it goes against Ebix, it will be appealed too. They can't just flip a switch and stop the efforts of short-sellers.