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Ebix Investors: Portnoy Law Firm Announces Lawsuit Filed On Behalf of Investors To Recover Losses

Investors can contact the Portnoy Law Firm at no cost to learn more about recovering their losses

/EIN News/ -- LOS ANGELES, Feb. 23, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Ebix, Inc. ("Ebix" or the "Company") (NASDAQ: EBIX) investors that a class action filed on behalf of Ebix investors that acquired shares between November 9, 2020 and February 19, 2021. The lawsuit alleges that the Company misled investors concerning the viability of the Company’s products and operations.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

The complaint filed in this lawsuit alleges that the company misled investors regarding its compliance with applicable accounting rules. On Friday, February 19, 2021, Ebix announced that, the Company's auditors, RSM resigned as the company’s independent registered public accounting firm. RSM said it was “resigning 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 4Q. The Company further stated that the auditor had a “disagreement” on the classification of funds of $30m that was transferred to a trust account of Ebix’s outside legal counsel. On this news the Company’s shares fell significantly in value.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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