Trending...
- California: Governor Newsom signs new law to protect workers, require disclosures on AI-generated advertising - 139
- California: Governor Newsom signs legislation 9.14.2026 - 129
- California: Governor Newsom delivers on pledge to provide new financing options for Eaton and Palisades survivors
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
- Governor Newsom signs bill expanding fuel options to help Californians save at the pump, amid Donald Trump's gas price crisis
- Regional Magazines Shine at IRMA Awards
- Danny's Ice Cream Truck Is Coming Home to San Diego
- A3 Analytics Names Greg Snyder as Co-Founder and Chief Operating Officer
- California: Governor Newsom expands film and TV tax credits with new legislation, creates tax credit to support post-production jobs
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
- KayeDinero Writes Python. Does That Make Her an AI Artist? "C'mon Nah."
- Governor Newsom signs new laws to protect California elections from Trump interference
- Governor Newsom signs bill to protect California's sovereignty and guard against unauthorized military deployments
- Vydhai Launches AI Visibility Service for Dental Practices in ChatGPT, Google AI & Perplexity
- 11th Edition of Tomorrow's Filmmakers Today fellowship at 18th Annual Hola Mexico Film Festival
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
- California: Governor Newsom issues executive order to accelerate independent oversight and advance the creation of an AI kill switch
- Manuel Jesse Lopez Expands Amazon Influencer Storefront To Global Audience
- xBxBio Opens EU, Asia and Latin America Regulatory Leadership Searches
- TitleChain Foundation Opens Public Commons Reference Project for Real-World Asset Transfer
- Put Your Herd on Your Phone: Kiko Nation Makes Livestock Management Simple
- Chapter Enterprise and NuGuard AI Announce Strategic Partnership to Make Enterprise Agentic AI Both Role-Intelligent and Audit-Ready
- iSmile Orthodontics - San Ramon Trains Its Whole Team on AI, Invites Other Practices to Join
- Future Intelligence Think Tank Surpasses 1,000 Members Exploring Human and Artificial Intelligence
- Manuel Jesse Lopez Launches Official Amazon Influencer Storefront to Streamline Consumer Purchases
- Connect Names Zeb Hastings Head of Partnerships & Growth
- Server Memory Up 27 Percent Since March While DDR4 Falls 25 Percent: eRacks Publishes Its Tracking
- Sons of Morehouse Carry the Light: David Roach and Larry Calhoun Keep Independent Black Stories Alive from Stage to Screen
- Humphrey Jr. Returns Brings a Beloved Northern California Whale Story to a New Generation
- mQOL Announces Jessica Willoughby as Chief Operating Officer
- Wheelchair to Founder: At 70, Jonine Scott Turns a Personal Health Crisis Into Luna Select Market
- California: Governor Newsom announces appointments 9.17.2026
- California: Governor Newsom proclaims Constitution Day and Citizenship Day
- Gary Bernstein Expands Media Leadership Role With Senior Strategic Advisor Appointment To Blacksun Private Equity
- California: Governor Newsom delivers on pledge to provide new financing options for Eaton and Palisades survivors
- Headline: House of Nova Paints Every Face in Gold at New York Fashion Week