GlobeNewswire Inc | Feb 23, 2021 02:28PM EST

February 23, 2021

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, Feb. 23, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Ebix, Inc. ("Ebix" or the "Company") (NASDAQ: EBIX) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy,by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors options for pursuing claims to recover their losses.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors concerning whether the Company fabricated key elements of its business.

The allegations of securities fraud focus on whether the company misled investors regarding its compliance with applicable accounting rules. On Friday, February 19, 2021, Ebix announced that, the Company's auditors, RSM resigned as the companys independent registered public accounting firm. RSM said it was resigning 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 4Q. The Company further stated that the auditor had a disagreement on the classification of funds of $30m that was transferred to a trust account of Ebixs outside legal counsel.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firms founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.Admitted CA and NY Barlesley@portnoylaw.com310-692-8883www.portnoylaw.com

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