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June 12, 2014
11:47 EDTEBIXEbix announces final approval of shareholder Class Action settlement
Ebix announced that, following the June 5 final fairness hearing, on June 11, the United States District Court for the Northern District of Georgia entered a Final Order and Judgment Approving the Class Action Settlement and Plan of Allocation and Certifying the Settlement Class in the shareholder securities class action styled In re Ebix, Inc. Securities Litigation, Master File No. 1:11-CV-02400-RWS (N.D. Ga.), which was filed in 2011 on behalf of a class consisting of those persons who purchased or otherwise acquired the company's common stock between May 6, 2009, and June 30, 2011. The Court's final approval, which includes a dismissal of the action with prejudice, follows the Court's preliminary approval of the settlement announced by the company on February 6. Ebix Chairman and CEO, Robin Raina, commented, "We are pleased to have put this litigation behind us and look forward to moving ahead with our long-term business development strategy."
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