Ebix Pays $6.5M To End Securities-Misconduct Class Action

Law360, Los Angeles (February 6, 2014, 6:38 PM EST) -- A federal judge in Georgia on Tuesday preliminarily approved a class action settlement in which insurance software developer Ebix Inc. will pay $6.5 million to settle claims that its executives misled investors about Ebix's revenues and earnings, leading to artificially inflated stock prices.

If the deal is realized, it will settle all claims accusing Ebix, CFO Robert Kerris, and Chairman, President and CEO Robin Raina of disseminating material, false and misleading statements in press releases, analyst conference calls and filings with the U.S. Securities and Exchange...
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Case Information

Case Title

In Re: EBIX, Inc. Securities Litigation


Case Number

1:11-cv-02400

Court

Georgia Northern

Nature of Suit

Securities/Commodities

Judge

Richard W. Story

Date Filed

July 21, 2011

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