Law firm Maurice Blackburn is opening registrations to pursue a class action against rival Slater and Gordon.
Shareholders of Slater and Gordon will be able to register for the action, after the ASX-listed company’s share price dropped from $7.85 in April to just 98c in December.
Sydney-based firm ACA Lawyers is also considering a possible class action against the law firm for potentially misleading the market over both the $890 million capital raising to acquire Quindell’s professional services business in the UK and profit forecasting for the 2016 financial year.
SGH Price at posting:
96.0¢ Sentiment: Hold Disclosure: Held