|[February 25, 2013]
Glancy Binkow & Goldberg LLP Announces Investigation of Ebix, Inc.
LOS ANGELES --(Business Wire)--
Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims on behalf of purchasers of the securities of Ebix (News - Alert), Inc.
("Ebix" or the "Company") (NASDAQ:EBIX) concerning possible violations
of federal securities laws. The investigation focuses on allegations
that certain statements issued by Ebix regarding the Company's
operations and financial performance were false and misleading.
Ebix provides on-demand software and e-commerce solutions to the
insurance industry. The investigation is related to a report authored by
Gotham City Research LLC and published February 21, 2013 on the Seeking
Alpha website, alleging that the Company has never disclosed a $65.8
million loan between its Singapore subsidiary and an undisclosed related
party. The report further alleges that the loan appeared in a disclosure
form fled by Ebix's Singapore subsidiary but has not been disclosed in
any of the Company's 10-K filings in the United States.
Following the Gotham City Research report, Bloomberg (News - Alert) News
obtained the Singapore filing and reported that the related-party loan
originated in 2009, according to the Singapore filing, but "no mention
of the Singapore loan was evident in a review of Ebix's U.S. filings."
If you purchased Ebix securities, if you have information or would like
more about these claims, or if you wish to discuss these matters or
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, by telephone at (310)
201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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