Quindell retail shareholder group supports bloodied insurance firm

 
Oliver Smith
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MEMBERS of the Quindell Shareholder Action Group voted in support of the firm in a poll this weekend.

The group of nearly 1,000 retail investors in the Aim-listed insurance firm backed the company, even though their shares plummeted 60 per cent following a scathing blog post in April by US short seller Gotham City Research.

Of the 970 shareholders, who control a combined 6.7 per cent of Quindell’s total shares in issue, over 62 per cent said they have a positive attitude towards their investment in the company. Just 12.7 per cent of members said they held a negative view and 25 per cent were neutral.

“We are a group that is supportive of Quindell, we have been and will continue to ask challenging questions of the board,” said the group’s anonymous founder.

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