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Ebix Accounting Practices Said to Be Probed by SEC

Ebix Inc., the insurance software company that said it was targeted by short sellers last year, is being investigated by the U.S. Securities and Exchange Commission for its accounting practices, four people with direct knowledge of the probe said.

The SEC investigation, conducted over the past year, is focused on revenue recognition, internal controls and the accuracy of the company’s public statements to shareholders, said three of the people, who asked not to be named because the probe wasn’t public.