"Andrew Watson, national head of class actions at Maurice Blackburn, released a statement saying: “The sheer size and scale of this write down casts enormous doubt on the adequacy of disclosures made by Slater and Gordon in relation the true value of the Quindell assets.”
“[The] announcement of an $876 million impairment in goodwill and a near $1 billion loss strengthens the themes our class action investigation is pursuing,” he said.
Similarly, ACA Lawyers hasfinalised a funding agreement with two leading litigation funding groups to investigate bringing a shareholder class action against Slater and Gordon.
Bruce Clarke, principal at ACA Lawyers, said the potential class action had received a lot of interest from investors.
“There is real anger among Slater and Gordon investors, from small mum and dad investors to large institutional investors who are looking for some way to recover the millions of dollars that have been lost over the past 10 months,” he said.
SGH Price at posting:
26.0¢ Sentiment: Sell Disclosure: Not Held
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