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Thursday, Feb 21
Ebix (EBIX) -2.7% after SA contributor Gotham City Research accuses the insurance software maker...
Ebix (EBIX) -2.7% after SA contributor Gotham City Research accuses the insurance software maker of a long list of accounting misdeeds. Among other things, Gotham City notes the existence of a $65.8M related party loan by Ebix's Singapore unit, claims Ebix's Australian revenue (as disclosed in Australian filings) is a fraction of what's claimed in SEC filings, and estimates 20%-40% of accounts receivable "seem of dubious quality." The SEC has already launched a probe of Ebix's accounting.