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THE TRUTH ABOUT EBIX, ROBIN RAINA, AND THE ROBIN RAINA FOUNDATION

THE TRUTH ABOUT EBIX, ROBIN RAINA, AND THE ROBIN RAINA FOUNDATION

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Published by gothamcityresearch
This exposé explains why investors should immediately sell Ebix shares and stay away until more information is provided by the company. We believe the reported financial statements are not reliable, accurate, or complete. We also believe the shares deserve to be halted until the issues we address are remedied.
This exposé explains why investors should immediately sell Ebix shares and stay away until more information is provided by the company. We believe the reported financial statements are not reliable, accurate, or complete. We also believe the shares deserve to be halted until the issues we address are remedied.

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Categories:Types, Research
Published by: gothamcityresearch on Feb 21, 2013
Copyright:Attribution Non-commercial

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07/02/2014

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GOTHAM CITY RESEARCH LLCwww.gothamcityresearch.com info@gothamcityresearch.com 
GOTHAM CITY RESEARCHGOTHAM CITY RESEARCHGOTHAM CITY RESEARCHGOTHAM CITY RESEARCH LLCLLCLLCLLC
THE TRUTH ABOUT EBIX,ROBIN RAINA,AND THEROBIN RAINAFOUNDATION
"We're more Catholic than the Pope." 
(Former) co-Chairman Jo Lernout, of Lernout & Hauspie, September, 25 2000
"Ebix stands for integrity, in every form and fashion." 
CEO & Chairman Robin Raina, of Ebix, Inc., April 1, 2011
 
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Disclaimer:
By reading this report, you agree that use of GOTHAM CITY RESEARCH LLC’s research is at your own risk.In no event will you hold GOTHAM CITY RESEARCH LLC or any affiliated party liable for any direct orindirect trading losses caused by any information in this report. This report is not investment advice or arecommendation or solicitation to buy any securities. GOTHAM CITY RESEARCH LLC is not registered asan investment advisor in any jurisdiction.You agree to do your own research and due diligence before making any investment decision withrespect to securities covered herein. You represent to GOTHAM CITY RESEARCH LLC that you havesufficient investment sophistication to critically assess the information, analysis and opinion in thisreport. You further agree that you will not communicate the contents of this report to any other personunless that person has agreed to be bound by these same terms of service.You should assume that as of the publication date of this report, GOTHAM CITY RESEARCH LLC stands toprofit in the event the issuer’s stock declines. We may buy, sell, cover or otherwise change the form orsubstance of its position in the issuer. GOTHAM CITY RESEARCH LLC disclaims any obligation to notifythe market of any such changes.Our research and report includes forward-looking statements, estimates, projections, and opinionsprepared with respect to, among other things, certain accounting, legal, and regulatory issues the issuerfaces and the potential impact of those issues on its future business, financial condition and results of operations, as well as more generally, the issuer’s anticipated operating performance, access to capitalmarkets, market conditions, assets and liabilities. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond GOTHAM CITY RESEARCH LLC’s control.
Our research and report expresses our opinions, which we have based upon generally availableinformation, field research, inferences and deductions through our due diligence and analyticalprocess. GOTHAM CITY RESEARCH LLC believes all information contained herein is accurate andreliable, and has been obtained from public sources we believe to be accurate and reliable.
However, such information is presented “as is,” without warranty of any kind, whether express orimplied. GOTHAM CITY RESEARCH LLC, makes no representation, express or implied, as to the accuracy,timeliness, or completeness of any such information or with regard to the results to be obtained from itsuse. All expressions of opinion are subject to change without notice, and GOTHAM CITY RESEARCH LLCis not obligated to update or supplement any reports or any of the information, analysis and opinioncontained in them.GOTHAM CITY RESEARCH LLC has filed as a whistleblower with the Internal Revenue Service and theSecurities Exchange Commission.
 
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Table of ContentsI.
 
DisclaimerII.
 
SummaryIII.
 
IntroductionIV.
 
Ebix’s Accounting: Unreliable, Inaccurate, and IncompleteV.
 
The Tax Strategy: Sham in Fact or Sham in SubstanceVI.
 
Ebix’s Stock Deserves to be HaltedVII.
 
Shares are Worth No More Than $5VIII.
 
Robin Raina Foundation: a Crumbling Wall of False IntegrityIX.
 
End Notes

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