LOS ANGELES–(BUSINESS WIRE)–$EBIX #EBIX—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ebix, Inc. (“Ebix” or “the Company”) (NASDAQ: EBIX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ebix is the subject of a report published by Hindenburg Research on June 16, 2022, titled: «Ebix: This House of ‘Cards’ Seems To Have a Glaring Fake Revenue Problem.” The report claims that «in February 2021, Ebix’s auditor, RSM, resigned because Ebix wouldn’t provide evidence regarding ‘unusual transactions related to the Company’s gift card business in India.'» The report also alleges that «corporate records reveal that the unusual transactions seem to have accelerated since the auditor’s resignation,» and that «virtually every claimed feature» of the Company’s app «didn’t work.» Based on this news, shares of Ebix fell by more than 37.6% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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