Trending...
- Update Any Sign Instantly with Santek EZ Sign NFC: Ultra-Slim 4-Color E-Paper Display - 337
- Who plays xs in the flash and which episodes has her? "Schway!"
- $2.1B Theft Losses: Bitquore Launches 1M+ TPS Platform with 95% Offline Asset Protection for U.S. Traders
LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Ebix, Inc. ("Ebix" or the "Company") (NASDAQ: EBIX) investors concerning the Company's possible violations of the federal securities laws.
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 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On February 19, 2021, after the market closed, Ebix revealed that its independent auditor, RSM US LLP ("RSM"), resigned "as 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" related to the Company's gift card business in India. RSM had also stated that there was a material weakness related to Ebix's failure to design controls "over the gift or prepaid card revenue transaction cycle sufficient to prevent or detect a material misstatement." In addition, Ebix and RSM disagreed over the accounting treatment of $30 million that had been transferred into a commingled trust account of Ebix's outside legal counsel in December 2020.
More on The Californer
On this news, the Company's share price fell as much as 27% during after-hours trading on February 19, 2021, thereby injuring investors.
Follow us for updates on LinkedIn, Twitter, or Facebook.
Whistleblower Notice: Persons with non-public information regarding Ebix should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the 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 Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.
About GPM
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM's nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM's lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM's attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money.
More on The Californer
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On February 19, 2021, after the market closed, Ebix revealed that its independent auditor, RSM US LLP ("RSM"), resigned "as 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" related to the Company's gift card business in India. RSM had also stated that there was a material weakness related to Ebix's failure to design controls "over the gift or prepaid card revenue transaction cycle sufficient to prevent or detect a material misstatement." In addition, Ebix and RSM disagreed over the accounting treatment of $30 million that had been transferred into a commingled trust account of Ebix's outside legal counsel in December 2020.
More on The Californer
- PHOTOS: Governor Newsom deploys California Volunteers, California National Guard on humanitarian mission assisting food banks as Trump's government shutdown delays SNAP benefits
- California: Governor Newsom celebrates CAL FIRE's first graduation at new Atwater training center
- Scare Safely: City of Long Beach Offers Tips for a Safe Halloween
- California: Governor's SAFE Task Force and local partners clear homeless encampments in Fresno and San Diego
- Hypnotic Hijinks of HypnoMarc Rolls into Sunnyvale for One Night Only
On this news, the Company's share price fell as much as 27% during after-hours trading on February 19, 2021, thereby injuring investors.
Follow us for updates on LinkedIn, Twitter, or Facebook.
Whistleblower Notice: Persons with non-public information regarding Ebix should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the 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 Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.
About GPM
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM's nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM's lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM's attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money.
More on The Californer
- California: Governor Newsom announces appointments 10.22.25
- California: Governor Newsom announces appointments 10.23.2025
- Lokal Media House Earns ServiceTitan Certified Marketer Status
- Wall Street's New Obsession? Tradewinds Aims to Revolutionize the $8B Gentlemen's Club Industry with National Peppermint Hippo™ Strategy $TRWD
- Poised for Major Growth with Strategic Military Orders, Global Expansion, and Groundbreaking Underground Mining Initiative $RMXI
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Filed Under: Business
0 Comments
Latest on The Californer
- Golden Paper Introduces TAD Hand Towel Technology, Ushering in a New Era of Premium Tissue Quality
- Obsessed with Street Cats? There's an App for That
- Pet Affordable Lab Services Now Open for Scheduling
- ReedSmith® Creates Founder-Investor Connections at The Investor Dating Game™ by Tech Coast Venture Network During LA Tech Week
- Modern Myth TV Launches Kickstarter for Legend Hunterz, a Native-Led Paranormal & History Series
- OfficeSpaces.co Expands Its AI-Powered Website Builder Across North America
- Tobu Railway Group Will Host the Fourth Annual "Take-Akari" Bamboo Lantern Festival in East Tokyo, November 7, 2025 – January 31, 2026
- Branded Seats Folding Cup Holder Debuts at a NBA Arena
- California: ICYMI: Governor advances Delta Conveyance Project through two key milestones
- California invests over $140 million to support Planned Parenthood health centers amid Trump's efforts to defund
- New Article by Roy J. Meidinger – Examines Hidden Hidden Healthcare Kickbacks
- Why Generic Platforms Fail in Emerging Markets: Bettorify Exposes the Gap Between Promise and Reality
- Children's Book Author Launches 'Karma Cats Puppy Quest' to Champion Helping Lost Pets
- Blogging Pioneer Sherry Bennett Celebrates 29 Years Online - Sharing the Secrets Behind Her 7-Figure Blog Empire
- Koplon Dentistry Elevates Implant Expertise with Advanced CE Course
- i2 Group Acquisitions and Investments in Innovations Deliver 40% Increase in Year-on-Year Bookings
- Breaking the Silence: Would A Man Rather Become A Hero Or Die Forgotten?
- New Book Release: The Tree That Could Not Change
- BayWa r.e. Solar Trade and WHES Announce Distribution Partnership for the European Market: Delivering Smarter Energy Storage
- Governor Newsom outlines California's economic dominance at the California Economic Summit