Ebix Inc. Board of Directors Under Investigation by Glancy Binkow & Goldberg LLP for Potential Breac
May 3rd 2013 1:50PM
Updated May 3rd 2013 2:50PM
Ebix Inc. Board of Directors Under Investigation by Glancy Binkow & Goldberg LLP for Potential Breaches of Fiduciary Duty
LOS ANGELES--(BUSINESS WIRE)-- Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Ebix Inc. ("Ebix" or the "Company") (NAS: EBIX) related to the proposed acquisition of the Company by an affiliate of Goldman, Sachs & Co. The transaction is valued at approximately $820 million or $20 per share.
This investigation concerns whether the Board of Directors of Ebix breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $13.21 on February 25, 2013 to $19.37 on April 24, 2013. Further, at least one analyst has set a target price for the Company's stock at $24 per share.
If you are a shareholder of Ebix, if you have information or would like to learn more about our investigation, 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 Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP
Louis Boyarsky, Esquire
Toll Free (888) 773-9224
KEYWORDS: United States North America California
The article Ebix Inc. Board of Directors Under Investigation by Glancy Binkow & Goldberg LLP for Potential Breaches of Fiduciary Duty originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.