SOURCE: Holzer Holzer & Fistel, LLC

Holzer Holzer & Fistel, LLC

August 11, 2011 14:16 ET

Notice of Filing of Class Action Lawsuit on Behalf of Investors in Ebix, Inc.

ATLANTA, GA--(Marketwire - Aug 11, 2011) - Notice is hereby given that Holzer Holzer & Fistel, LLC has filed a class action lawsuit in the United States District Court for the Northern District of Georgia on behalf of purchasers of Ebix, Inc. ("Ebix" or the "Company") (NASDAQ: EBIX) common stock who purchased shares between May 6, 2009 and June 30, 2011, inclusive (the "Class Period"). The lawsuit alleges that, among other things: (a) the Company's internal controls were wholly inadequate in the face of its torrid acquisition pace and the Company was unable to prepare materially accurate financial statements for its acquisitions or on a consolidated basis; (b) the Company's statements about Organic growth were misleading in that they mischaracterized purchased contracts as "organic"; (c) the Company's tax provisions violated generally accepted accounting principles ("GAAP"); and (d) the Company materially and improperly inflated the Company's cash flows and gross margins. As a result of defendants' false statements, Ebix stock traded at artificially inflated prices during the Class Period, reaching its Class Period high of $30.35 per share on March 24, 2011.

If you purchased Ebix common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than September 12, 2011. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are an Ebix investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm.