{"id":470864,"date":"2021-04-05T09:38:25","date_gmt":"2021-04-05T13:38:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=470864"},"modified":"2021-04-05T09:38:25","modified_gmt":"2021-04-05T13:38:25","slug":"hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\/","title":{"rendered":"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Ebix (EBIX) Investors to Securities Class Action and Application Deadline, Investors with Losses Should Contact the Firm"},"content":{"rendered":"
\n

SAN FRANCISCO, April 05, 2021 (GLOBE NEWSWIRE) — Hagens Berman urges Ebix, Inc. (NASDAQ: EBIX) <\/strong>investors with significant losses to submit your losses now<\/a>. A securities fraud class action has been filed and certain investors may have valuable claims.<\/p>\n\n\n\n\n\n\n
\n Class Period: <\/strong>Nov. 9, 2020 \u2013 Feb. 19, 2021<\/td>\n<\/tr>\n
\n Lead Plaintiff Deadline:<\/strong> April 23, 2021<\/td>\n<\/tr>\n
\n Visit:<\/strong>
\n www.hbsslaw.com\/cases\/EBIX<\/a>
\n \n <\/td>\n<\/tr>\n
\n Contact An Attorney Now:<\/strong>\n <\/td>\n\n EBIX@hbsslaw.com<\/a>\n <\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\n\n 844-916-0895<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

\n Ebix, Inc. (EBIX) Securities Fraud Class Action:<\/strong>
\n \n <\/p>\n

The complaint alleges that Defendants concealed that: (1) there was insufficient audit evidence to determine the business purpose of certain significant unusual transactions in Ebix\u2019s gift card business in India during 4Q 2020; (2) that there was a material weakness in Company\u2019s internal controls over the gift or prepaid revenue transaction cycle; and (3) that the Company\u2019s independent auditor, RSM, 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.<\/p>\n

Investors began to learn the truth on Feb. 19, 2021 when RSM abruptly resigned, stating that that \u201cdespite repeated inquiries\u201d RSM was unable to obtain sufficient audit evidence to \u201cevaluate the business purpose of significant unusual transactions<\/em><\/strong> that occurred in the fourth quarter of 2020, including whether such transactions have been properly accounted for and disclosed in the financial statements subject to the Audit.\u201d These \u201cunusual transactions\u201d concerned the company\u2019s gift card business in India.<\/p>\n

In addition, RSM and Ebix reportedly disagreed over whether $30 million transferred to a comingled trust account of Ebix\u2019s outside counsel should still be classified as cash on Ebix\u2019s balance sheet, even though those funds were outside Ebix\u2019s direct control.<\/p>\n

On this news, the Company\u2019s share price fell as much as $20.24, or 40%, in a single trading day.<\/p>\n

On Mar. 8, 2021, Ebix announced it has retained KG Somani & Co. as its new auditor, that it would not file its annual report until Apr. 2021, and that Board-appointed consultants and outside legal counsel are continuing \u201cto evaluate the payment solutions business.\u201d<\/p>\n

\n Most recently, on Mar. 11, 2021, the Company received a noncompliance letter from Nasdaq for failing to timely file its 10-K, demanding that EBIX submit a plan to regain compliance with Nasdaq\u2019s rules by Apr. 16<\/strong>.<\/p>\n

\u201cWe\u2019re focused on investors\u2019 losses and proving Ebix insiders cooked the company\u2019s books,\u201d said Reed Kathrein, the Hagens Berman partner leading the investigation.<\/p>\n

If you invested in Ebix shares and have significant losses, or have knowledge that may assist the firm\u2019s investigation, click here to discuss your legal rights with Hagens Berman<\/a>.<\/p>\n

\n Whistleblowers: <\/strong>Persons with non-public information regarding Ebix should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895<\/strong> or email EBIX@hbsslaw.com<\/a>.<\/p>\n

\n
\n About Hagens Berman<\/u>
\n <\/a>
\n
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation.\u00a0\u00a0 More about the firm and its successes is located at hbsslaw.com<\/a>. For the latest news visit our newsroom<\/u><\/a> or follow us on Twitter at @classactionlaw<\/u><\/a>.<\/p>\n

\n Contact: <\/u>
\n
Reed Kathrein, 844-916-0895<\/p>\n

\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

SAN FRANCISCO, April 05, 2021 (GLOBE NEWSWIRE) — Hagens Berman urges Ebix, Inc. (NASDAQ: EBIX) investors with significant losses to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims. Class Period: Nov. 9, 2020 \u2013 Feb. 19, 2021 Lead Plaintiff Deadline: April 23, 2021 Visit: www.hbsslaw.com\/cases\/EBIX Contact An Attorney Now: EBIX@hbsslaw.com \u00a0 844-916-0895 Ebix, Inc. (EBIX) Securities Fraud Class Action: The complaint alleges that Defendants concealed that: (1) there was insufficient audit evidence to determine the business purpose of certain significant unusual transactions in Ebix\u2019s gift card business in India during 4Q 2020; (2) that there was a material weakness in Company\u2019s internal controls over the gift or prepaid revenue … <\/p>\n

Continue reading “HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Ebix (EBIX) Investors to Securities Class Action and Application Deadline, Investors with Losses Should Contact the Firm”<\/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-470864","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nHAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Ebix (EBIX) Investors to Securities Class Action and Application Deadline, Investors with Losses Should Contact the Firm - 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\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Ebix (EBIX) Investors to Securities Class Action and Application Deadline, Investors with Losses Should Contact the Firm - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SAN FRANCISCO, April 05, 2021 (GLOBE NEWSWIRE) — Hagens Berman urges Ebix, Inc. 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(EBIX) Securities Fraud Class Action: The complaint alleges that Defendants concealed that: (1) there was insufficient audit evidence to determine the business purpose of certain significant unusual transactions in Ebix\u2019s gift card business in India during 4Q 2020; (2) that there was a material weakness in Company\u2019s internal controls over the gift or prepaid revenue … Continue reading "HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Ebix (EBIX) Investors to Securities Class Action and Application Deadline, Investors with Losses Should Contact the Firm"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-05T13:38:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMTI0NSM0MTA1MTQxIzIwMTg1MzI=\" \/>\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\\\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Ebix (EBIX) Investors to Securities Class Action and Application Deadline, Investors with Losses Should Contact the Firm\",\"datePublished\":\"2021-04-05T13:38:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\\\/\"},\"wordCount\":565,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIxMTI0NSM0MTA1MTQxIzIwMTg1MzI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\\\/\",\"name\":\"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Ebix (EBIX) Investors to Securities Class Action and Application Deadline, Investors with Losses Should Contact the Firm - 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(NASDAQ: EBIX) investors with significant losses to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims. Class Period: Nov. 9, 2020 \u2013 Feb. 19, 2021 Lead Plaintiff Deadline: April 23, 2021 Visit: www.hbsslaw.com\/cases\/EBIX Contact An Attorney Now: EBIX@hbsslaw.com \u00a0 844-916-0895 Ebix, Inc. (EBIX) Securities Fraud Class Action: The complaint alleges that Defendants concealed that: (1) there was insufficient audit evidence to determine the business purpose of certain significant unusual transactions in Ebix\u2019s gift card business in India during 4Q 2020; (2) that there was a material weakness in Company\u2019s internal controls over the gift or prepaid revenue … Continue reading \"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Ebix (EBIX) Investors to Securities Class Action and Application Deadline, Investors with Losses Should Contact the Firm\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-05T13:38:25+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMTI0NSM0MTA1MTQxIzIwMTg1MzI=","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\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Ebix (EBIX) Investors to Securities Class Action and Application Deadline, Investors with Losses Should Contact the Firm","datePublished":"2021-04-05T13:38:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\/"},"wordCount":565,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMTI0NSM0MTA1MTQxIzIwMTg1MzI=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-alerts-ebix-ebix-investors-to-securities-class-action-and-application-deadline-investors-with-losses-should-contact-the-firm\/","name":"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Ebix (EBIX) Investors to Securities Class Action and Application Deadline, Investors with Losses Should Contact the Firm - 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