{"id":473075,"date":"2021-04-07T13:03:21","date_gmt":"2021-04-07T17:03:21","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=473075"},"modified":"2021-04-07T13:03:21","modified_gmt":"2021-04-07T17:03:21","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-ebix-inc-ebix-5","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-ebix-inc-ebix-5\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ebix, Inc. (EBIX)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">LOS ANGELES, April  07, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Pbmx1fWw_8nkcL13KmaEszVFUroAYovXVqKEpDipcEJwChi27ilCLf0nEKZl3GMzJ7YIYJx4bE2CtXsQmBUP_IEOrzHpU_wg1D4FP-xyCxU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming\u00a0<strong>April 23, 2021<\/strong><strong>\u00a0<\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Ebix, Inc. (\u201cEbix\u201d or the \u201cCompany\u201d) (NASDAQ: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=c0igTn8ArU7hlTseWPBI8vvfxicUBPP3w5UrBXfmyOE31WUtQsonPwrbNyy4EGxcPCrkRjKst1RQIWBwcvxiQA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>EBIX<\/u><\/a>) securities between <strong>November 9, 2020 and February 19, 2021<\/strong>, inclusive (the \u201cClass Period\u201d). Ebix investors have until <strong>April 23, 2021 <\/strong>to file a lead plaintiff motion.<\/p>\n<p>If you suffered a loss on your Ebix investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=IfaU0BgpJXKeHi09eHCa_uYnN7bQStIm4PvItH1sGPj0jQ6Ai20ApJxL_coCY8OKKx7yt9flL801dfpp35ZMwncdAa9e-KbA_8xKI9YTJPBf1pmHU75oXOfqFoYas-FIbR-at_WQK96zJbdfGxAx4g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.glancylaw.com\/cases\/ebix-inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=meidRFyPgvZ98h1yFKMPN2kCQ6MIA5oZfG4KhaQ8NyHsWjWEsB7jqf2vISAm1JffEd0fX3kMgw-SfzTZzivFHTGDGnd_ozU9edZquBDrQWrO-NpLBkSiTfTJQ2fhmW7e\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>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 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.<\/p>\n<p>On 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.<\/p>\n<p>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.<\/p>\n<p>Follow us for updates on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Eku-DBATpkGVc1Q5Xc064aUVe4Ow62MGBp-cWwiaozwI8t4duG7j2B6vDTCEZ3wQZoXKeClbQJZCrTiysvo3gi32owypZJVETYiyWYK9sJC5mMcQN1GD9xYdW9uVWL1a\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=TNzv5lbVs7RKTeq9rQynZtcWPDywYWMfo4NnnpP0J-M2eFTqIabaGo0aNigvSq4BAoyJpGRY0W6OUTbMyLv6qw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>, or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MIGf2t_qdJ3Xjr1l7Dqdu63vJaqLCknyoCFOs2egiHQ5X2eTHg9kSW7Fd0TJ9CAwMT_aoZBa79C9djbO05JUx_0PBpwI5UPSbQTAcjR2Ai8=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>.<\/p>\n<p>If you purchased or otherwise acquired Ebix securities during the Class Period, you may move the Court no later than\u00a0<strong>April 23, 2021 <\/strong>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=meidRFyPgvZ98h1yFKMPN2kCQ6MIA5oZfG4KhaQ8NyEav2F9PnlywLnwr0RmkiranqHGNVIymQUTxg-7KcSGvnF2Tfbsri1wS6I9jLZ0WnimTXlBbn2ep_PAEtCq3VlK\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=jUaWdGVKCsSAloANkIZhnRvuRl5PM3UryxIt7UPt6FxCTxFP9zRb1WtmcQCFBxz2gqnBEiRtH7abwwb6BlLyIw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\n        <strong>Contacts <\/strong><br \/>\n        <br \/>Glancy Prongay &amp; Murray LLP, Los Angeles <br \/>Charles Linehan, 310-201-9150 or 888-773-9224 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=meidRFyPgvZ98h1yFKMPN2kCQ6MIA5oZfG4KhaQ8NyHiXRAZ28YOOSnzW7y081fQmOycxesVezXlHN2GArslmKfZ489AhRH_Z9me4Dnj8Iff6heSnYljcCo8XBJsKx46\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=jUaWdGVKCsSAloANkIZhnS6zlw6jWtwkyxyC80VqOWknKrbRKTKeKC_s8bnSOifRPYj0W0kT7Odi7EyqVgO7sQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMjYyMiM0MTA5MDQxIzIwMTcyOTE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/8acfdff9-a9f7-4329-8dd0-c2d2f23243c8\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES, April 07, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0April 23, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Ebix, Inc. (\u201cEbix\u201d or the \u201cCompany\u201d) (NASDAQ: EBIX) securities between November 9, 2020 and February 19, 2021, inclusive (the \u201cClass Period\u201d). Ebix investors have until April 23, 2021 to file a lead plaintiff motion. If you suffered a loss on your Ebix investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/ebix-inc\/. You can also contact Charles H. Linehan, of GPM at &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-ebix-inc-ebix-5\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ebix, Inc. (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-473075","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ebix, Inc. (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\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-ebix-inc-ebix-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ebix, Inc. (EBIX) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LOS ANGELES, April 07, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0April 23, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Ebix, Inc. (\u201cEbix\u201d or the \u201cCompany\u201d) (NASDAQ: EBIX) securities between November 9, 2020 and February 19, 2021, inclusive (the \u201cClass Period\u201d). Ebix investors have until April 23, 2021 to file a lead plaintiff motion. If you suffered a loss on your Ebix investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/ebix-inc\/. You can also contact Charles H. Linehan, of GPM at &hellip; Continue reading &quot;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ebix, Inc. 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(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\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-ebix-inc-ebix-5\/","og_locale":"en_US","og_type":"article","og_title":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ebix, Inc. (EBIX) - Market Newsdesk","og_description":"LOS ANGELES, April 07, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0April 23, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Ebix, Inc. (\u201cEbix\u201d or the \u201cCompany\u201d) (NASDAQ: EBIX) securities between November 9, 2020 and February 19, 2021, inclusive (the \u201cClass Period\u201d). Ebix investors have until April 23, 2021 to file a lead plaintiff motion. If you suffered a loss on your Ebix investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/ebix-inc\/. You can also contact Charles H. Linehan, of GPM at &hellip; Continue reading \"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ebix, Inc. (EBIX)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-ebix-inc-ebix-5\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-07T17:03:21+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMjYyMiM0MTA5MDQxIzIwMTcyOTE=","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\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-ebix-inc-ebix-5\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-ebix-inc-ebix-5\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ebix, Inc. 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