Shareholders in the company formerly known as Quindell suffered another blow today after the Aussie law firm it sold the bulk of its business to said it would sue for £600 million over “fraudulent misrepresentation”.
Watchstone Group said Slater and Gordon, which paid £637 million for Quindell’s ambulance-chasing business in 2015 before it unravelled shortly after, claimed “but for fraudulent misrepresentation it would not have entered into the transaction at all”.
The AIM-listed insurance outsourcer called the claim “groundless” and said it denies “any misrepresentation”.