The Law Firm of Wohl & Fruchter Commences Investigation into the Acquisition
of Ebix, Inc. by Goldman Sachs & Co.
NEW YORK -- May 1, 2013
The law firm of Wohl & Fruchter LLP is investigating the proposed acquisition
of Ebix, Inc. (Ebix) (Nasdaq: EBIX) by an affiliate of Goldman Sachs & Co.
Ebix is a leading provider of software and e-commerce services to the
On May 1, 2013, Ebix announced that, acting on the recommendation of a special
committee, it had agreed to be acquired by an affiliate of Goldman Sachs for
$20/share in cash. The acquisition price is a premium of less than 8% over the
closing price of EBIX stock on April 30, 2013.
Moreover, Robin Raina, Ebix’s Chairman and CEO, and the Rennes Foundation, a
large existing shareholder, will continue to be meaningful equity investors in
Ebix. Combined, Raina and the Rennes Foundation currently hold approximately
19% of EBIX shares. Both have entered into agreements to vote in favor of the
transaction. Rolf Herter, a member of Ebix’s Board of Directors, is also a
director of the Rennes Foundation.
Wohl & Fruchter’s investigation concerns the potential unfairness of the
consideration being provided to Ebix shareholders, and whether approval of the
merger was improperly motivated by conflicts of interest, including Raina’s
and the Rennes Foundation’s ongoing post-acquisition equity interest in the
Additional information is available athttp://www.wohlfruchter.com/cases/ebix.
Persons with relevant information, and Ebix shareholders with questions about
this investigation, are invited to contact our Firm by calling 866.582.8140,
or contacting the attorney below.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and
other fiduciary breaches by corporate managers, as well as other complex
litigation matters. Please visit our website, www.wohlfruchter.com, to learn
more about our Firm, or contact one of our partners.
This release may be deemed to constitute attorney advertising.
Wohl & Fruchter LLP
J. Elazar Fruchter, 845-425-4658
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