Glancy Binkow & Goldberg LLP Announces Investigation of Ebix, Inc.
LOS ANGELES -- February 25, 2013
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 email@example.com, or visit our website at
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
(310) 201-9150 or (888) 773-9224
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