AUDITOR DISAGREES WITH EBIX; INVESTOR LAWSUIT PENDING: Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Ebix, Inc.

By Benzinga2 days ago

Glancy Prongay & Murray LLP (“GPM“) reminds investors of the upcoming April 23, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Ebix, Inc. (“Ebix“ or the “Company“) (NASDAQ: EBIX) securities between November 9, 2020 and February 19, 2021, inclusive (the “Class Period“).

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 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 ...

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