Slater & Gordon requests suspension
Slater & Gordon, the company which acquired Quindell last year, has requested its shares be suspended, citing material issues in its first-half results.
The Australian class action law firm said some items in its results had not been finalised. The company, led by chief executive Cath Evans, asked Australian regulators to suspend trading in shares because impairments related to the UK business ‘are not yet finalised’.
Slater & Gordon said it thought it was appropriate to enter into voluntary suspension so that it could better manage its disclosure obligations and to avoid trades in its shares happening on a basis that was not reasonably informed. It expects trading in its shares to recommence by Monday.
In August last year the Serious Fraud Office announced it was investigating Quindell over its business and accounting practices.