INVESTOR ALERT: Kirby McInerney LLP Continues Investigation of Shareholder Claims against Ebix, Inc.
December 27 2018 - 8:30PM
Business Wire
The law firm of Kirby McInerney LLP is investigating potential
claims against Ebix, Inc. (“Ebix” or the “Company”) (NASDAQ:EBIX).
This investigation concerns whether Ebix has violated federal
securities laws and/or engaged in other unlawful business
practices.
On October 5, 2018, Ebix and management announced that they had
decided to replace the Company’s outside auditor (Cherry Bekaert
LLP) and to appoint TR Chadha & Co. LLP as Ebix’s new outside
auditor. Previously, on March 1, 2018, Cherry Bekaert had expressed
an adverse opinion about Ebix’s internal controls over financial
reporting. On this news, the price of Ebix shares fell $14.18, or
about 19.6%, to close at $58.10 on October 8, 2018.
Then, from December 3, 2018 to December 13, 2018, Viceroy
Research Group published a series of reports, alleging, among other
things, that Ebix is “booking external revenues on transactions
between its subsidiaries.” Following these disclosures, the price
of Ebix shares declined, thereby further injuring investors.
If you acquired Ebix securities, have information, or would like
to learn more about these claims, please contact Thomas W. Elrod of
Kirby McInerney LLP at 212-371-6600, by email at
investigations@kmllp.com, or by filling out this contact form, to
discuss your rights or interests with respect to these matters
without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20181227005389/en/
Kirby McInerney LLPThomas W. Elrod, Esq., (212)
371-6600investigations@kmllp.comwww.kmllp.com
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