By Ben Turney | Thursday 20 November 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
According to the Daily Telegraph, the London Stock Exchange has begun an investigation into Monday’s share price fall of Quindell (QPP). Specifically, the Telegraph believes that the LSE, and by extension AIM regulation, is going to examine whether or not the company withheld price sensitive information, when broker Cannacord Genuity submitted its notice of resignation on October 21st. Given the market reaction to this news on Monday, when Quindell finally bothered let its shareholders know this slightly important little titbit of information, it is probably fairly safe to assume that Cannacord’s notice of resignation was price sensitive.
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