Ebix Investor Alert

New York, New York--(Newsfile Corp. - February 22, 2021) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Ebix, Inc. ("Ebix" or the "Company") (NASDAQ:EBIX).

If you suffered losses exceeding $50,000 investing in Ebix stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: http://www.faruqilaw.com/EBIX.

There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.

On February 19, 2021, after the market closed, Ebix revealed that its independent auditor, RSM US LLP ("RSM"), resigned "as a result of being unable, despite repeated inquiries, to obtain sufficient appropriate audit evidence that would allow it to evaluate the business purpose of unusual transactions that occurred in the fourth quarter of 2020". RSM stated the unusual transactions related to the Company's gift card business in India. RSM further elaborated that they had also identified a material weakness because "management did not design or implement the necessary procedures and controls over the gift or prepaid card revenue transaction cycle sufficient to prevent or detect a material misstatement."

On this news, Ebix common stock fell sharply during intraday trading on February 22, 2021.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75144