EBIX LAWSUIT FILED: Jakubowitz Law Pursues Claims on Behalf of Ebix, Inc. Shareholders
New York, New York--(Newsfile Corp. - April 20, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders Ebix, Inc. (NASDAQ: EBIX).
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Affected shareholders purchased shares of EBIX between November 9, 2020 and February 19, 2021.
Shareholders interested in representing the class of wronged shareholders have until April 23, 2021 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Ebix, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) 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; (2) there was a material weakness in Company's internal controls over the gift or prepaid revenue transaction cycle; and (3) 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 (4) 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81110.