Misplaced Cash in Ebix, Inc.? Lawsuit Filed

The Gibbs Law Group is investigating possible violations of the Securities Act

Ebix Inc. shares fell as much as 27% after the market closed on Friday, February 19, 2021 and a class action lawsuit was filed. Ebix’s share price fell after it became known that its independent auditor, RSM US LLP (“RSM”), had resigned. RMS announced in a letter that it was stepping down over concerns about Ebix’s gift card business in India. The Gibbs Law Group is exploring a potential Class action lawsuit by Ebix Inc. on behalf of investors who lost money on Ebix (NASDAQ: EBIX).

To speak to an attorney about this class action lawsuit, Click here or call (888) 410-2925.

On Friday, February 22, 2021, Ebix’s independent auditor, RSM, issued a letter stating that he resigned because he was unable to “obtain sufficient appropriate audit evidence to enable him would evaluate the business purpose of material unusual transactions in the fourth quarter of the year. ” 2020. “Additionally, RSM indicated that there was a material weakness related to Ebix’s failure to design controls to“ prevent or detect material misstatement. “Ebix and RSM also disagreed on accounting for $ 30 million deposited in a mixed escrow account held by Ebix’s outside legal advisor in December 2020.

In that news, Ebix’s share price fell up to 27% during after-close trading on Friday February 19, 2021 and continued to fall as much as 40% on Monday February 22, 2021, causing harm to investors has been.

What Should Ebix, Inc. Investors Do?

If you’ve invested in Ebix, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you can potentially recover your losses. Our investigation is into whether Ebix, Inc. has violated federal securities laws.

About Gibbs Law Group

Gibbs Law Group represents individual and institutional investors across the country Securities disputes to correct abusive corporate governance practices, fiduciary violations and proxy violations. The firm has collected over $ 1 billion on behalf of clients from some of the world’s largest corporations, and our attorneys have received numerous awards for their work, including “Best Lawyers in America”, “Top Plaintiff Lawyers in California” and “California Lawyer Attorney” of the year, “” Top Class Action Attorneys Under 40 “,” Consumer Protection MVP “and” Top Cybersecurity / Privacy Attorneys Under 40 “.

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