BOSTON, MA / ACCESSWIRE / April 8, 2021 /The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of Ebix, Inc. (NASDAQ:EBIX). The case is currently in the lead plaintiff stage. Investors who purchased EBIX stock or other securities between November 9, 2020 and February 19, 2021 may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/Ebix to submit their information. Investors may also email email@example.com or call 617-531-3917.
FOR MORE INFORMATION: www.tenlaw.com/cases/Ebix.
The case alleges that Ebix and its senior executives made misleading statements to investors and failed to disclose that: (1) 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; (2) there was a material weakness in Ebix's internal controls over the gift or prepaid revenue transaction cycle; and (3) Ebix'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.
Interested Ebix investors have until April 23, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. Investors do not need to be a lead plaintiff in order to be a class member. A lead plaintiff acts on behalf of all other investor class members in managing the class action. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
FOR MORE INFORMATION: www.tenlaw.com/cases/Ebix
Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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SOURCE: Thornton Law Firm LLP
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