The outsourcing giant saw its shares tumble by 56% yesterday after a report attacked its financial reports and chief executive
The FCA is facing calls to investigate after a blog post yesterday caused outsourcing giant Quindell’s stock to plunge by 56%.
Peel Hunt head of corporate and equity capital markets Andrew Chapman said the FCA should regulate such statements, City AM reports.
Chapman added: “The FCA needs to protect and maintain market integrity and market participants need to have equal availability of information.”
The 72 page note by little-known research company Gotham City Research attacked Quindell’s financial reports and chief executive Rob Terry.
In a statement yesterday, Quindell rejected the assertions raised in the note, and called the blog post highly defamatory.
The company plans to release a more detailed response before the end of this week and has reported short selling to the FCA.