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'I have come to the conclusion that I would actually just pay/ask for the S.E.C. to perform the very audit that supposedly does not exist.'

Hi Aaron -- the SEC's audit role is to investigate, and if need be, prosecute, erring companies.
Not to certify those keeping their noses clean. (In theory, that's what those fancy statutory auditors are there for!)
So calling them in won't serve your purpose, assuming they would/ could even respond to such a summons :)

'From my due diligence (and I will expect all to do their own) I believe that even if EBIX is guilty of irregularities the actual damages would be negligible'

Would you mind sharing your basis for that conclusion?

While Ebix has been under short attack several times, AFAIK no seriously credible investor ( Ackman/ Einhorn/ Chanos...) has bothered to pile in. Not publicly at least, which is what they prefer to do when moving in for the kill.
Which, of course, could be because they have bigger fish to fry :)

As for investing "else where while this sorts out" - that's not about timing - and should never be. It's about risk tolerance. Yours.

The whole point of a short attack is to test your risk tolerance and (hopefully) make you capitulate, thus fulfilling the short's purpose.
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