World's 1st Public Law Firm Faces Shareholder Litigation

By Aebra Coe (October 12, 2016, 12:47 PM EDT) -- The world's first publicly traded law firm was hit Wednesday with a massive shareholder class action alleging the firm deceived investors and lost them more than $2 billion through various missteps, including the acquisition of a professional services firm, a plaintiffs law firm said.

According to a statement released Wednesday by Australian law firm Maurice Blackburn Lawyers, the firm filed a lawsuit on behalf of investors questioning whether Slater and Gordon Limited conducted adequate due diligence and kept shareholders properly informed when it acquired the professional services division of U.K. insurance claims management company Quindell PLC for AU$1.3 billion ($982 million),...

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