LONDON (Alliance News) - Insurance technology company Quindell PLC on Tuesday said it has received a notice of a claim against the company under the Financial Services and Market Act 2000.
Quindell said it is not yet in a position to verify the claims made in the notice, but the estimated value of the claims made against the company is around GBP9.0 million before costs. It said the claimant firm also said it has been approached, but not retained, by other potential claimants who together would have a claim of a maximum value of a further GBP9.0 million.
The company said the notice provided little detail on the potential claim and no information to support the claims made, but Quindell said it would "vigorously defend" itself.
It added the claim would not have any impact on its plans to return capital to its shareholders.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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