An investigation for investors in Ebix, Inc. (NASDAQ: EBIX) shares over potential securities laws violations by Ebix, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/04/2019 -- An investigation on behalf of investors of Ebix, Inc. (NASDAQ: EBIX) shares over potential securities laws violations by Ebix, Inc. and certain of its directors and officers in connection with certain financial statements was announced.
Investors who purchased shares of Ebix, Inc. (NASDAQ: EBIX), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Ebix, Inc. (NASDAQ: EBIX) concerning whether a series of statements by Ebix, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Johns Creek, GA based Ebix, Inc. provides software and e-commerce solutions to insurance, finance, healthcare, and e-learning industries.
On March 1, 2018, Cherry Bekaert LLP, the Company's outside auditor, expressed an adverse opinion about Ebix's internal controls over financial reporting.
On October 5, 2018, Ebix announced that it was replacing Cherry Bekaert LLP with a new outside auditor.
On December 11, 2018, an investigative financial research group published a report focusing on the Company's M&A-related activity. The group reported, in part, that it had found (a) numerous accounting discrepancies regarding recognition of goodwill and acquisitions, and (b) evidence it believes Ebix is perpetrating a scheme to incorrectly book revenue and earnings.
Ebix, Inc. reported that its annual Total Revenue rose from $363.97 million in 2017 to $497.82 million in 2018 and that its Net Income declined from $100.61 million in 2017 to $93.13 million in 2018.
Shares of Ebix, Inc. (NASDAQ: EBIX) declined from $85.60 per share in July 2018 to as low as $39.27 per share in late December 2018.
On June 3, 2019, NASDAQ: EBIX shares closed at $45.77 per share.
Those who purchased shares of Ebix, Inc. (NASDAQ: EBIX) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in conftact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.