EBIX SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Ebix, Inc. – EBIX
NEW ORLEANS–(BUSINESS WIRE) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors they have up April 23, 2021 Lead plaintiffs in a class action lawsuit against Ebix, Inc. (NasdaqGS: EBIX) if they purchased the Company’s securities between November 9, 2020 and February 19, 2021, inclusive (the “Class Period”). This lawsuit is pending in the United States District Court for the Southern District of New York.
What you can do
If you have bought securities from Ebix and would like to discuss your legal rights and the possible effects of this case on you and your right to reimbursement of your economic loss, you can contact KSF Managing Partner Lewis Kahn free of charge at 1- 877-515-1850 or by email (firstname.lastname@example.org) or at https://www.ksfcounsel.com/cases/nasdaqgs-ebix/ to find out more. If you want to be the lead plaintiff in this class action lawsuit, you must file a motion with the court April 23, 2021.
About the lawsuit
Ebix and some of its executives are accused of failing to disclose material information during the classroom, in violation of federal securities laws.
On February 19, 2021, after being placed on the market, the Company announced the resignation of its independent auditor RSM US LLP (“RSM”) due to the fact that “despite repeated inquiries, there is insufficient appropriate audit evidence to enable the assessment of the “To conduct major unusual transactions in the fourth quarter of 2020” related to the Company’s gift card business in India. RSM had also identified that there was a material weakness related to the company’s failure to design controls “over the transaction cycle of gift or prepaid card receipts sufficient to prevent or detect material misstatement.”
In that news, Ebix’s shares fell 40%.
The case is Teifke v Ebix, Inc. et al., 1: 21-cv-01589.
About Kahn Swick & Foti, LLC
KSF, of which former Louisiana Attorney General Charles C. Foti Jr. is a partner, is one of the leading securities litigation law firms in the country. KSF assists a wide variety of clients – including public institutional investors, hedge funds, money managers and private investors – in their search for investment losses due to corporate fraud and misconduct by listed companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you can visit www.ksfcounsel.com.