RTTNews | Feb 22, 2021 10:36AM EST

10:35 Monday, February 22, 2021 (RTTNews.com) - Shares of Ebix, Inc. (EBIX) nearly halved on Monday morning after the company announced that its accounting firm quit.

EBIX is currently trading at $25.90, down $24.84 or 48.96%, on the Nasdaq.

On February 19, Ebix, which supplies insurance, financial, healthcare and e-learning businesses with on-demand software and e-commerce services, announce that RSM US LLP had resigned as the company's independent registered public accounting firm.

RSM said the resignation was a "result of being unable, despite repeated inquiries, to obtain sufficient appropriate audit evidence that would allow it to evaluate the business purpose of significant unusual transactions that occurred in the fourth quarter of 2020," according to a SEC filing.

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