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Published in Science and Technology on Tuesday, July 5th 2011 at 19:20 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
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NEW YORK--([ BUSINESS WIRE ])--Faruqi & Faruqi, LLP, a national law firm concentrating on investors rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Ebix, Inc. ("Ebix") (Nasdaq: EBIX). Faruqi & Faruqi seeks to determine whether Ebix violated federal securities laws by issuing false and misleading financial statements during the period between October 1, 2009 and June 30, 2011 (the "Class Period").
Request more information now by clicking here: [ www.faruqilaw.com/EBIX ].
In a complaint recently filed in the United States District Court for the Southern District of Ohio, a plaintiff, who sold his business to Ebix, claimed that Ebix was consistently unable to bill customers properly, tie customer payments to invoices, provide basic financial data or calculate revenue for the company Ebix had purchased from him. This development is particularly troubling in light of torrid pace by which Ebix has grown through recent acquisitions, absorbing 11 acquisitions since 2008. As news of this lawsuit leaked out, shares of Ebix fell 6.4% on a relatively large volume of over 5 million shares traded.
Take Action
If you purchased Ebix securities during the Class Period and would like to discuss your legal rights, visit [ www.faruqilaw.com/EBIX ]. You can also contact us by calling Anthony Vozzolo toll free at 877-247-4292 or at 212-983-9330 or by sending an email to [ avozzolo@faruqilaw.com ]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Ebixa™ conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
About Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The firm is focused on providing exemplary legal services in complex litigation. Founded in 1995, the firm maintains its principal office in New York City, with offices in Delaware, California, Florida and Pennsylvania. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.
Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ([ www.faruqilaw.com ]). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.