Serco Shareholders Sue Over Stock Dive After Fraud Probe
Law360, London (January 22, 2020, 4:34 PM GMT) -- Dozens of shareholders in Serco are suing the company at the High Court to seek compensation after share prices were devastated in 2013 by fraud and false accounting revelations over the electronic tagging service the security outsourcing giant operated for the government.
The shareholders allege that Serco repeatedly published misleading or false statements to the market as they sue the outsourcing company at the High Court for compensation. (AP) The group of shareholders has alleged that Serco repeatedly published misleading or false statements to the market. They also allege it withheld vital information from material for investors before admitting that a subsidiary had...
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