Ebix (EBIX -26.2%) plummets as Bloomberg reports the SEC has been probing its accounting practices over the last year. The cloud insurance software firm's revenue recognition, internal controls, and information accuracy are all being probed, according to three sources. Chairman/CEO Robin Raina and an attorney representing Ebix claim to have no knowledge of an SEC investigation. Ebix bears such as SA's Copperfield Research have long criticized its accounting.