Insurance outsourcer’s trading suspension lifted this morning

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Quindell’s share price is down sharply after trading in the insurance outsourcer’s shares resumed this morning.

The shares started trading at 7.30 at 79p, down 37% on the 124.75p they were trading at before trading was suspended on 24 June.

The shares are now trading at the 89p mark, down 36% on the previous closing price.

Quindell suspended trading of its shares until its full-year 2014 results were published.

The insurance outsourcer published its results yesterday, which revealed it had overstated 2013 profits in its professional services division by £145m.

The company also revealed yesterday that it is being investigated by the Serious Fraud Office over historical business and accounting practices.