Ebix Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Goldman Sachs Affiliate
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Ebix, Inc. ("Ebix") (NAS: EBIX) to an affiliate of Goldman, Sachs & Co. for shareholders. Under the terms of the proposed sale valued at approximately $820 million (including the assumption of debt), Ebix shareholders will only receive $20 for each share of Ebix stock owned, well below at least one analyst's estimate of $24.00 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The Ebix sale investigation centers on whether Ebix's shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction undervalues Ebix's stock, and whether Ebix's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, at least one analyst with Yahoo! Finance has estimated that the true inherent value of Ebix stock could be as high as $24.00 per share. Moreover, Ebix's 52-week high is $24.90, well above the proposed sale price. According to shareholder rights attorney Willie Briscoe, "Due to the size of the deal, analysts' estimates, the lack of a significant premium and other factors, we believe this transaction may undervalue Ebix's stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders."
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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The article Ebix Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Goldman Sachs Affiliate originally appeared on Fool.com.
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