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New York, New York--(Newsfile Corp. - March 2, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Ebix, Inc. (NASDAQ: EBIX) alleging that the Company violated federal securities laws.
Class Period: November 9, 2020 and February 19, 2021
Lead Plaintiff Deadline: April 23, 2021
Learn more about your recoverable losses in EBIX:
The filed complaint alleges that Ebix, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) that there was insufficient audit evidence to determine the business purpose of certain significant unusual transactions in Ebix's gift card business in India during the fourth quarter of 2020; (2) that there was a material weakness in Company's internal controls over the gift or prepaid revenue transaction cycle; and (3) that the Company's independent auditor was reasonably likely to resign over disagreements with Ebix regarding $30 million that had been transferred into a commingled trust account of Ebix's outside legal counsel; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until April 23, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the EBIX lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75847