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Law Offices of Howard G. Smith Announces Investigation of Ebix, Inc.

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  Published in Science and Technology on Tuesday, July 19th 2011 at 16:35 GMT by Market Wire
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BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against Ebix, Inc. (aEbixa or the aCompanya) (NASDAQ:EBIX) concerning potential violations of federal securities laws or possible breaches of fiduciary duties by the Company or its fiduciaries. Ebix provides on-demand software and e-commerce solutions to the insurance industry in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, and property and casualty. The Company operates data exchanges which connect multiple entities within the insurance markets and enable the participants to carry and process data from one end to another.

The investigation concerns allegations that certain statements issued by Ebix between May 6, 2009 and June 30, 2011, regarding the Companya™s business and financial performance were materially false and misleading. Specifically, the investigation concerns a report published March 24, 2011, by Seeking Alpha alleging that the Company, among other things, inflated cash flows, manipulated its stated organic growth and tax liabilities, and overstated profit margins and accounts receivables.

If you purchased Ebix stock, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].