BREAKING- EBIX Being Investigated for Money Laundering- Plunging 20 Percent (EBIX)
By Tim Parker on August 6, 2013
Shares of Ebix Inc. (NASDAQ: EBIX) just spiked 20 percent lower as news broke that the company is being investigated for money laundering. According to reports, some cross-border transfers are said to be the focus of the review.
We will update this story as more comes available.
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Ebix, Inc. provides software and e-commerce solutions to the insurance industry. The company operates data exchanges, which connect various entities within the insurance markets and enables the participant to carry and process data from one end to another in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, and property and casualty (P&C) insurance.
EBIX
9.36
-2.43 (-20.61%)
Disclosure: At the time of this writing, the author had no position in the company mentioned.
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About Tim Parker
Tim Parker is the owner of ECS, LLC, a company specializing in financial and small business content. His writing has appeared in many of the top financial blogs including Investopedia, Yahoo! Finance, Benzinga, Business Insider, Forbes, and the Intuit Small Business Blog. Find him on Twitter @expositioncreat Breaking Finance News is an ECS Property.
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