(English) Ebix, Inc.
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(English) SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against Ebix, Inc. – EBIX
New York, N.Y., March 4, 2021. Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Ebix, Inc. (NASDAQ: EBIX) between November 9, 2020 and February 19, 2021, inclusive (the “Class Period”).
To join the EBIX class action, go to http://zhanginvestorlaw.com/cases/ebix-inc/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.
According to the lawsuit, throughout the Class Period (1) 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) there was a material weakness in Company’s internal controls over the gift or prepaid revenue transaction cycle; (3) 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) 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.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 23, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/ebix-inc/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at email@example.com.
Zhang Investor Law represents investors worldwide.