Speculation mounts as Slater + Gordon delays results

Slater + Gordon, the listed Australian law group, has delayed publication of its annual results for four days, creating speculation that it might have an unpleasant surprise to disclose over its UK purchase, the troubled legal arm of Quindell.

Shareholder power jurgenfr

The group says that the reason for pushing back the result to Friday is 'to provide our shareholders with the fullest update possible on our FY15 results and our FY16 outlook'. But the Financial Times is speculating 'that a full update will include the admission it bought a billion dollar basket case' in the form of the Quindell legal services for which it paid A$1.2b. 

Serious Fraud Office

The results go to the end of June, at which stage the acquisition was just a month old. Nevertheless, a full set of balance sheet values will clearly need to be reported and signed off by the auditors. The Serious Fraud Office has announced an investigation into events at Quindell before the sale to Slater + Gordon. The Australian firm has, however, said it will not be affected by this investigation. Source: Financial Times

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