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News Breaks | | | | February 21, 2013 | | 11:23 EDT |  | EBIX | Ebix plunges after report claims financial statements are inaccurate
Shares of Ebix (EBIX), which provides software products for the insurance industry, are falling sharply after a contributor to the financial site Seeking Alpha alleged the company's financial statements are "unreliable, inaccurate, and incomplete." The contributor, Gotham City Research, disclosed a short position in the stock in conjunction with the cautious report. According to the blog post, Ebix Singapore made a $66M undisclosed related party loan to an unnamed related company and Ebix's long-lived assets in filings for 2010 and 2011 "don't add up." The post also references a Bloomberg story from last November that said sources indicated the SEC is probing Ebix' accounting practices. Ebix responded at the time of that Bloomberg report by stating that it stands behind the accuracy of its public filings. In late morning trading, shares of Ebix fell about 13% to $16.59. Reference Link | |
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News For EBIX From The Last 14 Days Check below for free stories on EBIX the last two weeks. |
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| June 12, 2013 | | 12:48 EDT |  | EBIX | Options with increasing implied volatility: ACAD EBIX ELN
 Subscribe for More Information | | | June 11, 2013 | | 13:34 EDT | | EBIX | Options with increasing implied volatility: EBIX LIFE SFD
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