Breaking Finance News

Ebix Up 3 Percent After Volatile Day- Bloomberg Publishes Original Story Again (EBIX)

Shares of Ebix Inc. (NASDAQ: EBIX) are up about 3.6 percent in Wednesday trading following Tuesday report from Bloomberg that the company was being investigated for money laundering.

At the end of Tuesday’s trading day, Bloomberg reported that Ebix was being investigated for money laundering. The stock plunged more than 20 percent on the news but quickly began to recover as Ebix published a press release saying that the Bloomberg story was “false and inaccurate.” Bloomberg later responded saying that it stands by the story.

Read More: EBIX Being Investigated for Money Laundering- Plunging 20 Percent

This morning, Bloomberg published a piece of the story again as part of a larger story about compliance.

[stock-tools exchange="NASDAQ" symbol="EBIX" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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