{"id":446366,"date":"2021-02-26T17:08:12","date_gmt":"2021-02-26T22:08:12","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=446366"},"modified":"2021-02-26T17:08:12","modified_gmt":"2021-02-26T22:08:12","slug":"investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\/","title":{"rendered":"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021"},"content":{"rendered":"

<\/p>\n

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.<\/b>and Encourages Investors to Contact the Firm Before April 26, 2021<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nThe law firm of Kirby McInerney LLP<\/a> reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Ebix, Inc. (\u201cEbix\u201d or the \u201cCompany\u201d) (NASDAQ: EBIX)<\/a> securities from November 9, 2020 through February 19, 2021, inclusive (the \u201cClass Period\u201d). Investors have until April 26, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\n<\/p>\n

\nOn February 19, 2021, after the market closed, Ebix revealed that its independent auditor, RSM US LLP (\u201cRSM\u201d), resigned \u201cas a result of being unable, despite repeated inquiries, to obtain sufficient appropriate audit evidence that would allow it to evaluate the business purpose of significant unusual transactions that occurred in the fourth quarter of 2020\u201d related to the Company\u2019s gift card business in India. RSM had also stated that there was a material weakness related to Ebix\u2019s failure to design controls \u201cover the gift or prepaid card revenue transaction cycle sufficient to prevent or detect a material misstatement.\u201d In addition, Ebix and RSM disagreed over the accounting treatment of $30 million that had been transferred into a commingled trust account of Ebix\u2019s outside legal counsel in December 2020.\n<\/p>\n

\nOn this news, the Company\u2019s share price fell as much as $20.24, or approximately 40%, to close at $30.50 on February 22, 2021, on unusually heavy trading volume.\n<\/p>\n

\nThe lawsuit alleges that throughout the Class Period Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there was insufficient audit evidence to determine the business purpose of certain significant unusual transactions in Ebix\u2019s gift card business in India during the fourth quarter of 2020; (2) that there was a material weakness in the Company\u2019s internal controls over the gift or prepaid revenue transaction cycle; and (3) that the Company\u2019s 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\u2019s outside legal counsel; and (4) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nIf you purchased or otherwise acquired Ebix securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod<\/a> of Kirby McInerney LLP<\/a> at 212-371-6600, by email at investigations@kmllp.com<\/a>, or by filling out this contact form<\/a>, to discuss your rights or interests with respect to these matters without any cost to you.\n<\/p>\n

Kirby McInerney LLP<\/a> is a New York-based plaintiffs\u2019 law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm\u2019s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP\u2019s website: http:\/\/www.kmllp.com<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210226005678\/en\/<\/a><\/span><\/p>\n

\nKirby McInerney LLP
\n
Thomas W. Elrod, Esq.
\n
212-371-6600
\n
https:\/\/www.kmllp.com
\n<\/a>
investigations@kmllp.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021 NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Ebix, Inc. (\u201cEbix\u201d or the \u201cCompany\u201d) (NASDAQ: EBIX) securities from November 9, 2020 through February 19, 2021, inclusive (the \u201cClass Period\u201d). Investors have until April 26, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. On February 19, 2021, after the market closed, Ebix revealed that its independent … <\/p>\n

Continue reading “INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-446366","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nINVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021 NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Ebix, Inc. (\u201cEbix\u201d or the \u201cCompany\u201d) (NASDAQ: EBIX) securities from November 9, 2020 through February 19, 2021, inclusive (the \u201cClass Period\u201d). Investors have until April 26, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. On February 19, 2021, after the market closed, Ebix revealed that its independent … Continue reading "INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-26T22:08:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210226005678r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021\",\"datePublished\":\"2021-02-26T22:08:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\\\/\"},\"wordCount\":606,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210226005678r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\\\/\",\"name\":\"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021 - 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(\u201cEbix\u201d or the \u201cCompany\u201d) (NASDAQ: EBIX) securities from November 9, 2020 through February 19, 2021, inclusive (the \u201cClass Period\u201d). Investors have until April 26, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. On February 19, 2021, after the market closed, Ebix revealed that its independent … Continue reading \"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\/","og_site_name":"Market Newsdesk","article_published_time":"2021-02-26T22:08:12+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210226005678r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021","datePublished":"2021-02-26T22:08:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\/"},"wordCount":606,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210226005678r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ebix-inc-and-encourages-investors-to-contact-the-firm-before-april-26-2021\/","name":"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ebix, Inc.and Encourages Investors to Contact the Firm Before April 26, 2021 - 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