Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of purchasers of the securities of Ebix, Inc. (“Ebix” or the “Company”) (NASDAQ:EBIX) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by Ebix regarding the Company’s operations and financial performance were false and misleading.
Ebix provides on-demand software and e-commerce solutions to the insurance industry. The investigation is related to a report authored by Gotham City Research LLC and published February 21, 2013 on the Seeking Alpha website, alleging that the Company has never disclosed a $65.8 million loan between its Singapore subsidiary and an undisclosed related party. The report further alleges that the loan appeared in a disclosure form filed by Ebix’s Singapore subsidiary but has not been disclosed in any of the Company’s 10-K filings in the United States.
Following the Gotham City Research report, Bloomberg News obtained the Singapore filing and reported that the related-party loan originated in 2009, according to the Singapore filing, but “no mention of the Singapore loan was evident in a review of Ebix’s U.S. filings.”
If you purchased Ebix securities, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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