Ambulance chaser says feds and state investigating loan
On February 21, 2013, it was disclosed that Ebix and its board of directors permitted a 2009 related-party loan in the amount of $65.8 million to be concealed from the investing public contrary to generally accepted accounting practices. As a result, Ebix has become the target of an investigation by federal and state regulatory authorities. On this news, the Company’s shares lost more than 27% of their value over the past week. from Harwood Feffer LLC
People I hate:
1. Ambulance chasers
2. Useless SEC
3. Raina, Kerris and Barlow.
4. Stock pacifists and other stripes of cowards who say things like "let's chill out" and "everything will be peachy in the future" and "don't bother Robin with this, it will distract him from running a wonderful business"
Groups 1-4 really deserve each other. Copperfield/Gotham did not quite make my list because they are just doing what Ebix was asking: "Keep running hit pieces and tanking the stock, we won't complain" "But you better watch out because we're going to show a 4% yoy revenue increase in the exchange channel". That'll show shorts who is boss!
People whom I dislike: Loud complainers about others who don't know jack.
“There are few people whom I really love, and still fewer of whom I think well. The more I see of the world, the more am I dissatisfied with it; and every day confirms my belief of the inconsistency of all human characters, and of the little dependence that can be placed on the appearance of merit or sense.”
― Jane Austen, Pride and Prejudice