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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ebix Inc | NASDAQ:EBIX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.16 | 1.18 | 1.20 | 0 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code (
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
* |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
* | On December 28, 2023, the Nasdaq Stock Market LLC (“Nasdaq”) suspended trading of Ebix, Inc. common stock, par value $0.10 per share (“Common Stock”). Nasdaq filed a Form 25 with the U.S. Securities and Exchange Commission on February 15, 2024 to delist the Common Stock from the Nasdaq Stock Market, effective at the opening of the trading session on February 26, 2024. The deregistration of the common stock under Section 12(b) of the Securities Exchange Act of 1934 will be effective 90 days, or such shorter period as the U.S. Securities and Exchange Commission may determine, after filing of the Form 25-NSE. Our common stock currently trades on the maintained by the OTC Markets Group, Inc. under the symbol “EBIXQ.” |
Item 7.01 | Regulation FD Disclosure |
On April 1, 2024, Ebix, Inc. (the “Company”) issued a press release announcing that the Securities and Exchange Commission (the “SEC”) has concluded its investigation of the Company and does not intend to recommend any further actions against the Company. The SEC launched its non-public investigation in response to the resignation of the Company’s former auditor and a report issued by Hindenburg Research.
The Company also announced that the United States Court of Appeals for the Second Circuit has affirmed the dismissal, with prejudice, of all the pending securities fraud claims against Ebix and its officers, filed in the United States District Court for the Southern District of New York (SDNY). This class action suit - Ebix, Inc. (“Ebix”) vs. Rahul Saraf (the “Plaintiff”), was filed in the SDNY after the resignation of the Company’s former auditor and the subsequent report issued by Hindenburg Research. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit Number |
Description | |
99.1 | Ebix, Inc. Press Release, dated April 1, 2024 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 1, 2024 |
||||||
EBIX, INC. | ||||||
By: | /s/ Amit Kumar Garg | |||||
Name: | Amit Kumar Garg | |||||
Title: | Chief Financial Officer |
Exhibit 99.1
Ebix Reports Conclusion of SEC Investigation and Dismissal of All Pending Securities Claims Against
Ebix and its Officers in United States District Court for the Southern District of New York (SDNY)
Johns Creek, G.A. April 1, 2024 Ebix, Inc. (OTC: EBIXQ) a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare, and e-learning industries, announced today that the Securities and Exchange Commission (SEC) has concluded its investigation of Ebix and officially communicated that it does not intend to recommend an enforcement action by the SEC against Ebix. This non-public investigation was carried out by the SEC in response to the RSM resignation and the subsequent Hindenburg short report.
In another event, Ebix also announced that it has won the Second Circuit appeal in the United States District Court for the Southern District of New York (SDNY), with all the pending securities fraud claims against Ebix and its officers, filed in the SDNY being dismissed with prejudice and the dismissal affirmed on appeal. This class action suit - Ebix, Inc. (Ebix) vs. Rahul Saraf (the Plaintiff), was filed in the SDNY after the RSM resignation and the subsequent Hindenburg short report.
About Ebix, Inc.
With approximately 200 offices across 6 continents, Ebix, Inc., (OTC:EBIXQ) endeavors to provide on-demand infrastructure exchanges to the insurance, financial services, travel, and healthcare industries.
With a Phygital strategy that combines over 650,000 physical distribution outlets in India and many Southeast Asian Nations (ASEAN) countries, to an Omni-channel online digital platform, the Companys EbixCash Financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), travel, pre-paid gift cards, utility payments, lending and wealth management across 75+ countries including India. EbixCashs Forex operations are carried out primarily through 82 retail branches, 62 retail kiosks in 16 international airports, including Delhi, Mumbai, Hyderabad, Chennai and Kolkata, 12 seaports, over 250 franchise partners across 69 cities, as well as offered through more than 1200 corporate clients, more than 27 bank clients, and 5-star hotels in India. EbixCash, through its travel portfolio of Via and Mercury, is also one of the leading non-bank travel exchanges based in India and catering to approximately 517,000 agents and approximately 17,900 registered corporate clients. EbixCashs financial technologies business offers software solutions at the enterprise level for banks, asset and wealth management companies and trust companies within India, Southeast Asia, the Middle East and Africa. EbixCashs business process outsourcing services provide information technology and call center services to a variety of industries.
Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Companys website at www.ebix.com
CONTACT:
IR@ebix.com
Or
satish.sapru@Ebix.com
Document and Entity Information |
Apr. 01, 2024 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Apr. 01, 2024 |
Entity Registrant Name | EBIX INC |
Entity Incorporation State Country Code | DE |
Entity File Number | 0-15946 |
Entity Tax Identification Number | 77-0021975 |
Entity Address Address Line 1 | 1 Ebix Way |
Entity Address City Or Town | Johns Creek |
Entity Address State Or Province | GA |
Entity Address Postal Zip Code | 30097 |
City Area Code | 678 |
Local Phone Number | 281-2020 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common Stock, $0.10 par value per share |
Trading Symbol | EBIXQ |
Entity Emerging Growth Company | false |
Security Exchange Name | NONE |
Amendment Flag | false |
Entity Central Index Key | 0000814549 |
1 Year Ebix Chart |
1 Month Ebix Chart |
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