NEW YORK–(BUSINESS WIRE)–#Action–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Ebix, Inc. (“Ebix” or the “Company”) (NASDAQ: EBIX) on behalf of Ebix stockholders. Our investigation concerns whether Ebix has violated the federal securities laws and/or engaged in other unlawful business practices.
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On June 16, 2022, Hindenburg issued a short report on Ebix titled, “Ebix: This House of ‘Cards’ Seems To Have a Glaring Fake Revenue Problem.” Hindenburg stated that in February 2021, “Ebix auditor RSM resigned because the company refused to provide evidence regarding ‘unusual transactions related to the Company’s gift card business in India.’ The auditor was unable to obtain evidence to allow it to evaluate the business purposes behind the transactions. Hindenburg’s review of Indian corporate records shows that these ‘unusual transactions’ have increased since RSM’s departure.”
On this news, Ebix stock fell $8.81, or 37.6%, to close at $14.59 on June 16, 2022.
If you purchased or otherwise acquired Ebix shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.