Almost two-thirds of the Quindell Shareholders Action Group have a positive view of their investment in the company

Quindell has received backing from a group of retail shareholders despite a 60% drop in its share price following a damaging report from US short-seller Gotham City Research, City AM reports.

The Quindell Shareholder Action Group - who own a combined 6.7% of Quindell - voted on their attitude towards the company, with almost two-thirds saying they viewed their investment positively.

Of the 970 shareholders in the group, more than 62% said they had a positive opinion of their investment, with less than 13% having a negative outlook.

The Quindell Shareholder Action Group founder, who remains anonymous, said: “We are a group that is supportive of Quindell, we have been and will continue to ask challenging questions of the board.”