The insurance outsourcer is already suing Gotham City which published its report in April

Quindell is suing a blogger that repeated “highly defamatory” claims against the company by research firm Gotham City which attacked its financial reports and executive chairman Rob Terry.

In a statement the insurance outsourcer said: “The board of Quindell rejects the assertions raised in an online publication by one blogger that the group has bought worthless companies to financially benefit old pals of the card and therefore inappropriately used shareholder funds, thereby suggesting the company and certain board members have effectively committed fraud.”

Legal action has already started against Gotham City.

Back in April the firm issued a research note that described Quindell’s profits as “suspect”.

“The board considers the assertions of both Gotham and the blogger in question to be highly defamatory, deliberately misrepresentative and entirely rejects the conclusions that are made,” Quindell added.