SAN DIEGO, CA / ACCESSWIRE / March 16, 2021 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Ebix, Inc. (NASDAQ:EBIX) shares.
Investors, who purchased shares of Ebix, Inc. (NASDAQ:EBIX), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779-1554.
The plaintiff alleges that the Defendants failed to disclose to investors 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, that there was a material weakness in the Company's internal controls over the gift or prepaid revenue transaction cycle, that 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 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.
Those who purchased Ebix, Inc. (NASDAQ:EBIX) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.