NEW YORK, March 31, 2021 (GLOBE NEWSWIRE) -- 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 class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=ebix-inc&id=2624 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.
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If you wish to serve as lead plaintiff, you must move the Court before the April 23, 2021 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose 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; there was a material weakness in Company’s internal controls over the gift or prepaid revenue transaction cycle; 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 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.
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.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
info@zhanginvestorlaw.com
tel: (800) 991-3756
