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Ebix's (EBIX) merger agreement with a Goldman Sachs affiliate has been terminated. The...

Ebix's (EBIX) merger agreement with a Goldman Sachs affiliate has been terminated. The termination is the result of Ebix's receipt of a letter from a U.S. Attorney for the Northern District of Georgia stating it has "opened an investigation into allegations of intentional misconduct" found in recent shareholder class action suits against Ebix. The letter follows an SEC investigation into Ebix's accounting launched earlier this year. EBIX -25% AH. SA contributor Gotham City Research has been quite critical of Ebix's accounting for some time.
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Comments (4)
  • Brett22
    , contributor
    Comments (83) | Send Message
     
    The arbs are getting killed tonight. Really interesting to see just how low this goes tomorrow. I guess Robin Raina's tax issues and very aggressive tax positions are finally coming home to roost. I suspect this will be under $10 within a week.
    19 Jun 2013, 08:17 PM Reply Like
  • Ted Bear
    , contributor
    Comments (621) | Send Message
     
    Sounds like it would have been a marriage of (criminal) equals. They might have been good for one another (although neither admitting nor denying guilt).
    19 Jun 2013, 09:42 PM Reply Like
  • Brandond
    , contributor
    Comments (381) | Send Message
     
    Holy cow-going to be very ugly for the longs in the coming weeks. Never good to have the US attorney investigate you.
    20 Jun 2013, 08:35 AM Reply Like
  • eudemonic
    , contributor
    Comments (29) | Send Message
     
    ¿Dónde está el dividendo de mayo?
    20 Jun 2013, 05:26 PM Reply Like
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