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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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
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.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220714005910/en/
The Schall Law Firm
Brian Schall, Esq.