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.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
1 Readers' comment