{"id":449941,"date":"2021-03-03T15:45:14","date_gmt":"2021-03-03T20:45:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=449941"},"modified":"2021-03-03T15:45:14","modified_gmt":"2021-03-03T20:45:14","slug":"investor-alert-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix\/","title":{"rendered":"Investor Alert:  Kessler Topaz Meltzer &amp; Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Ebix, Inc. \u2013 EBIX"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">RADNOR, Pa., March  03, 2021  (GLOBE NEWSWIRE) &#8212; The law firm of Kessler Topaz Meltzer &amp; Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Ebix, Inc. (NASDAQ: EBIX) (\u201cEbix\u201d) on behalf of those who purchased or acquired Ebix securities <strong><em>between November 9, 2020 and February 19, 2021<\/em><\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"2\" style=\"vertical-align: top\">\n            <strong><br \/>\n              <em>Lead Plaintiff Deadline: <\/em><br \/>\n            <\/strong><br \/>\n            <strong><br \/>\n              <em><br \/>\n                <u>April 23, 2021<\/u><br \/>\n              <\/em><br \/>\n            <\/strong><br \/>\n            \n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:13%;width:13%;min-width:13%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:87%;width:87%;min-width:87%;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong><br \/>\n              <em>Website:<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\n            <a href=\"https:\/\/www.ktmc.com\/ebix-inc-securities-class-action-lawsuit?utm_source=PR&amp;utm_medium=link&amp;utm_campaign=ebix\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.ktmc.com\/ebix-inc-securities-class-action-lawsuit?utm_source=PR&amp;utm_medium=link&amp;utm_campaign=ebix<\/a>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <em><br \/>\n              <strong>Contact:<\/strong><br \/>\n            <\/em>\n          <\/td>\n<td style=\"vertical-align: top\">\n            <strong>James Maro, Esq. (484) 270-1453<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\n            <strong>Adrienne Bell, Esq. (484) 270-1435<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\n            <strong>Toll free (844) 887-9500<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Ebix supplies infrastructure exchanges to the insurance, financial, travel, cash remittances, and healthcare industries.<\/p>\n<p align=\"justify\">The Class Period commences on November 9, 2020, when Ebix filed its quarterly report for the period ended September 30, 2020 on a Form 10-Q with the SEC, stating in relevant part that the \u201cChief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our \u2018disclosure controls and procedures\u2019 . . . [and] have concluded that these disclosure controls and procedures are effective.\u201d<\/p>\n<p align=\"justify\">On 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 Ebix\u2019s gift card business in India. RSM 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 Additionally, 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.<\/p>\n<p align=\"justify\">Following this news, Ebix\u2019s share price fell $20.24, or approximately 40%, to close at $30.50 on February 22, 2021.<\/p>\n<p align=\"justify\">The complaint alleges that, throughout the Class Period, the defendants\u2019 positive statements about Ebix\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p align=\"justify\">Ebix investors may, <strong><em><u>no later than April 23, 2021<\/u><\/em><\/strong>, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer &amp; Check, LLP or other counsel, or may choose to do nothing and remain an absent class member.\u00a0 A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.\u00a0 In order to be appointed as a lead plaintiff, the Court must determine that the class member\u2019s claim is typical of the claims of other class members, and that the class member will adequately represent the class.\u00a0 Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.\u00a0<\/p>\n<p align=\"justify\">Kessler Topaz Meltzer &amp; Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer &amp; Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. \u00a0The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).\u00a0 The complaint in this action was not filed by Kessler Topaz Meltzer &amp; Check, LLP. For more information about Kessler Topaz Meltzer &amp; Check, LLP please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HKPx1Cpy5v3xVJLj6zUfhGxD5Ja9RbbJwQvIPMt1SlevmRs2NiJdg8QlYaUNIj9kmJXBe0vncLiW-XTmgdGFKA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.ktmc.com<\/a>.<\/p>\n<p>CONTACT:<\/p>\n<p>Kessler Topaz Meltzer &amp; Check, LLP<br \/>James Maro, Jr., Esq.<br \/>Adrienne Bell, Esq.<br \/>280 King of Prussia Road<br \/>Radnor, PA 19087<br \/>(844) 887-9500 (toll free)<br \/>(610) 667-7706<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-JCitLGkF_775xwhLGu4Ou_ciuYvWDqr8Df0p8m9dolQ4jPC2fauw2nVw580sgiCgtveZ3uj_QdZw6jAd0uPnA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">info@ktmc.com<\/a><\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4MzcyOCM0MDQ2NTE0IzIwMTkzMTI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/d589e9c2-e73c-4e3d-830a-bb0060d9d547\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>RADNOR, Pa., March 03, 2021 (GLOBE NEWSWIRE) &#8212; The law firm of Kessler Topaz Meltzer &amp; Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Ebix, Inc. (NASDAQ: EBIX) (\u201cEbix\u201d) on behalf of those who purchased or acquired Ebix securities between November 9, 2020 and February 19, 2021, inclusive (the \u201cClass Period\u201d). Lead Plaintiff Deadline: April 23, 2021 \u00a0 \u00a0 Website: https:\/\/www.ktmc.com\/ebix-inc-securities-class-action-lawsuit?utm_source=PR&amp;utm_medium=link&amp;utm_campaign=ebix \u00a0 \u00a0 Contact: James Maro, Esq. (484) 270-1453 \u00a0 Adrienne Bell, Esq. (484) 270-1435 \u00a0 Toll free (844) 887-9500 Ebix supplies infrastructure exchanges to the insurance, financial, travel, cash remittances, and healthcare industries. The Class Period commences on November 9, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Investor Alert:  Kessler Topaz Meltzer &amp; Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Ebix, Inc. \u2013 EBIX&#8221;<\/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-449941","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investor Alert: Kessler Topaz Meltzer &amp; Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Ebix, Inc. \u2013 EBIX - 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-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investor Alert: Kessler Topaz Meltzer &amp; Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Ebix, Inc. \u2013 EBIX - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"RADNOR, Pa., March 03, 2021 (GLOBE NEWSWIRE) &#8212; The law firm of Kessler Topaz Meltzer &amp; Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Ebix, Inc. (NASDAQ: EBIX) (\u201cEbix\u201d) on behalf of those who purchased or acquired Ebix securities between November 9, 2020 and February 19, 2021, inclusive (the \u201cClass Period\u201d). Lead Plaintiff Deadline: April 23, 2021 \u00a0 \u00a0 Website: https:\/\/www.ktmc.com\/ebix-inc-securities-class-action-lawsuit?utm_source=PR&amp;utm_medium=link&amp;utm_campaign=ebix \u00a0 \u00a0 Contact: James Maro, Esq. (484) 270-1453 \u00a0 Adrienne Bell, Esq. (484) 270-1435 \u00a0 Toll free (844) 887-9500 Ebix supplies infrastructure exchanges to the insurance, financial, travel, cash remittances, and healthcare industries. The Class Period commences on November 9, &hellip; Continue reading &quot;Investor Alert: Kessler Topaz Meltzer &amp; Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Ebix, Inc. \u2013 EBIX&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-03T20:45:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4MzcyOCM0MDQ2NTE0IzIwMTkzMTI=\" \/>\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-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Investor Alert: Kessler Topaz Meltzer &amp; 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Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Ebix, Inc. \u2013 EBIX - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix\/","og_locale":"en_US","og_type":"article","og_title":"Investor Alert: Kessler Topaz Meltzer &amp; Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Ebix, Inc. \u2013 EBIX - Market Newsdesk","og_description":"RADNOR, Pa., March 03, 2021 (GLOBE NEWSWIRE) &#8212; The law firm of Kessler Topaz Meltzer &amp; Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Ebix, Inc. (NASDAQ: EBIX) (\u201cEbix\u201d) on behalf of those who purchased or acquired Ebix securities between November 9, 2020 and February 19, 2021, inclusive (the \u201cClass Period\u201d). Lead Plaintiff Deadline: April 23, 2021 \u00a0 \u00a0 Website: https:\/\/www.ktmc.com\/ebix-inc-securities-class-action-lawsuit?utm_source=PR&amp;utm_medium=link&amp;utm_campaign=ebix \u00a0 \u00a0 Contact: James Maro, Esq. (484) 270-1453 \u00a0 Adrienne Bell, Esq. (484) 270-1435 \u00a0 Toll free (844) 887-9500 Ebix supplies infrastructure exchanges to the insurance, financial, travel, cash remittances, and healthcare industries. The Class Period commences on November 9, &hellip; Continue reading \"Investor Alert: Kessler Topaz Meltzer &amp; Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Ebix, Inc. \u2013 EBIX\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-03T20:45:14+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4MzcyOCM0MDQ2NTE0IzIwMTkzMTI=","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-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kessler-topaz-meltzer-check-llp-reminds-investors-of-securities-fraud-class-action-lawsuit-filed-against-ebix-inc-ebix\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Investor Alert: Kessler Topaz Meltzer &amp; 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