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EBIX ALERT: Bragar Eagel & Squire, P.C. is Investigating Ebix, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the FirmBragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Ebix (News - Alert), Inc. (NASDAQ: EBIX) on behalf of long-term stockholders following a class action complaint that was filed against Ebix on February 22, 2021. Our investigation concerns whether the board of directors of Ebix have breached their fiduciary duties to the company. The complaint alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, defendants failed to disclose to investors: (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 transfrred 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. If you are a long-term stockholder of Ebix, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra B. Raymond by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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