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Slater & Gordon defends its disclosure record as problems mount

By Neasa MacErlean

22 December 2015 at 09:02 BST

Slater & Gordon has defended its record in disclosing information on a timely basis, even though it has accepted that it took nine days to reveal that its performance in the UK might be worse than expected.

Nils Versemann

The listed law firm, which took on troubled Quindell's personal injury business in the UK, has admitted that it received draft results for its UK division that were worse than it had previously suggested. But these were not made public until nine days later. 

Management information

Acting company secretary Helen Vines said that the draft information had to be checked before being published outside the company. She said: 'This draft information was internal management information which, without verification, was insufficiently definite to warrant disclosure.' She said that the company was compliant all along with the rules of the Australian Securities Exchange, where it is listed. 

Share price

The company has had troubles with a volatile share price over the last year and analysts have suggested that it might want to raise capital as a matter of urgency after writing down some of its goodwill. Source: Sydney Morning Herald


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