Slater & Gordon, the Aussie law firm that grossly overpaid to buy the bulk of the fraud Quindell (QPP) has seen its shares crash by 25% to just A$3.78 today as it has admitted that it too has accounting “errors”. The stock traded at A$7.95 on the day it announced the Quenron deal…We told you that the short trade had just moved on…
The ambulance chasers at Slater say that they will co-operate with the Australian Securities & Investments Commission (the Oz FCA) noting: “The company was notified by Pitcher Partners that ASIC intends to raise some queries directly with the company.” Yes Slater will co-operate. What choice does it have? I can't imagine that it does so with great pleasure.
Slater said
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