Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Ebix Inc.
NEW YORK, February 24, 2021 / PRNewswire / – Bernstein Liebhard, a nationally recognized investor rights law firm, announces that a class action lawsuit has been filed on behalf of investors who have purchased or acquired the securities of Ebix Inc. (“Ebix” or the “Company”). (NASDAQ: EBIX) by November 9, 2020 and February 19, 2021 (the “Class Period”). The lawsuit has been filed The United States District Court for the Southern District of new York alleges violations of the Securities Exchange Act of 1934.
Bernstein Liebhard LLP. (PRNewsFoto / Bernstein Liebhard LLP) (PRNewsfoto / Bernstein Liebhard LLP)
If you have purchased Ebix securities and / or would like to discuss your legal rights and options, please visit or contact Ebix Shareholder’s Class Action Action Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
On February 19, 2021Ebix announced that RSM US LLP (“RSM”), its independent auditor, has resigned. The resignation was “the result of the inability, despite repeated requests, to obtain appropriate audit evidence that would enable it to assess the business purpose of material unusual transactions that occurred in the fourth quarter of 2020” that emerged from the company’s gift card business in India. RSM had also found that there was a material weakness related to Ebix’s failure to design controls “over the transaction cycle of gift or prepaid card receipts sufficient to prevent or detect material misstatement.” Ebix and RSM also disagreed on accounting for $ 30 million that had been transferred to a mixed escrow account from Ebix’s outside counsel December 2020.
In the news, the company’s share price fell approximately 40% from $ 50.74 to close at $ 30.47 on February 22, 2021.
If you want to appear as the lead plaintiff, you have to move the court at the latest April 23, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
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If you have purchased Ebix securities and / or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/ebix-ebix-shareholder-class-action-lawsuit-fraud-stock-364 / apply / or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
Bernstein Liebhard LLP has recovered since 1993 $ 3.5 billion for its customers. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to monitor their assets and litigate on their behalf. Based on the success of hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s Hot List thirteen times and on The Legal 500 for ten consecutive years.
LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779- 1414. The lawyer responsible for this complaint in the State of Connecticut is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Matthew E. Guarnero
Bernstein Liebhard LLP
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SOURCE Bernstein Liebhard LLP