Komlossy Law, P.A. Announces Investigation of Ebix, Inc.
Komlossy Law, P.A. Announces Investigation of Ebix, Inc. Business Wire HOLLYWOOD, Fla. -- May 1, 2013 Komlossy Law, P.A. is investigating the Board of Directors ("Board") of Ebix, Inc. (“Ebix” or the “Company”) (Nasdaq:EBIX) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to an affiliate of Goldman, Sachs & Co. in a transaction valued at approximately $820 million. Pursuant to the terms of the proposed transaction, Ebix shareholders are to receive $20.00 in cash for each share. The acquisition price purports to represent a premium of only 7.2% over the closing price of Ebix stock on April 30, 2013, the day before the announcement of the proposed acquisition. The investigation involves whether the Board breached their fiduciary duties to stockholders by favoring the interests of certain officers and directors of the Company in the proposed acquisition, and whether the transaction is fair to shareholders with respect to price, process and disclosure of all material information. The Company's Chairman, CEO and President, Robin Raina, and the Rennes Foundation, which together own approximately 19 percent of the Company's stock, have entered into separate agreements to vote their shares in favor of the proposed acquisition. If you own Ebix stock and wish to obtain additional information about your rights as a shareholder, or if you have information about the above investigation, please contact Emily C. Komlossy, Esq. via email at email@example.com or Ross A. Appel, Esq. at firstname.lastname@example.org or by telephone toll free at (855) 858-1233. Komlossy Law, P.A. represents shareholders in complex litigation, including class action and derivative litigation. Komlossy Law, P.A. may co-counsel with another firm, or refer a case to another firm. More information is available through its website, www.komlossylaw.com/Ebix, and upon request from the firm. Emily C. Komlossy is the attorney responsible for the content of this release. Attorney Advertisement. Past results do not guarantee or predict a similar outcome with respect to any future matter. Contact: Komlossy Law, P.A. Emily C. Komlossy, Esq., 855-858-1233 email@example.com www.komlossylaw.com