I had rather assumed that Quindell (QPP) would unravel slowly. I am starting to think that the big collapseroonie in the share price might happen rather sooner than expected and Friday’s utterly dismal statement only strengthens that view. But let’s start with Gotham City.
Quindell has stated that it will be taking legal action against Gotham for its 74 page dossier. I have now been in touch with Gotham and it seems 100% clear that its attitude might be summarised as “see you in court, bitchez!” It is not backing down and indeed seems to be spoiling for a fight. If Quindell does not go ahead and sue Gotham for libel then its credibility will collapse. If it does, I suggest that this will be a dirty, distracting and costly fight where Gotham will throw mud and some, at least, will stick.
We already have the FT reporting that Quindell has removed from its website an address for its New York Office which Gotham appeared to show did not actually exist. It strikes me that this is not exactly the sort of antics you expect from a pukka blue-chip company.
And then there is the matter of the rebuttal
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