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BUZZ-Quindell Plc: fighting back

Tue, 19th Aug 2014 13:37

** Shares in Quindell Plc, a British IT outsourcingand consultancy services provider, up as much as 11 pct.

** The company says it rejects assertions raised in blog onmotivations driving certain acquisitions. http://bit.ly/1vcpb0t

** "The Board considers the assertions of both Gotham andthe blogger in question to be highly defamatory, deliberatelymisrepresentative and entirely rejects the conclusions that aremade," Quindell said on Tuesday.

** A blogger put out an article on Aug 13 implyingQuindell's acquisition of Business Advisory Service Limited in2011 benefited Quindell's Chairman Robert Terry's "pals". (http://bit.ly/1vcq0Xc)

** Quindell could not be immediately contacted to confirmthe identity of the blogger.

** The AIM-listed stock has taken a beating since U.S.-basedGotham City Research questioned Quindell's revenue model andprofit quality in April, dousing its chances of securing apremium listing on the London Stock Exchange.

** Gotham City Research made its allegations in a reportpublished on its website in April.

(http://link.reuters.com/waw68v) (Reuters Messaging:noor.hussain.thomsonreuters.com@reuters.net)