NEW YORK, March 05, 2021 (GLOBE NEWSWIRE) -- Pawar Law Group announces a class action lawsuit on behalf of shareholders who purchased shares of Ebix, Inc. (NASDAQ: EBIX) from November 9, 2020 through February 19, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Ebix, Inc. investors under the federal securities laws.
To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose 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; there was a material weakness in Company’s internal controls over the gift or prepaid revenue transaction cycle; 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 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.
If you wish to serve as lead plaintiff, you must move the Court no later than April 23, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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