And if their year could get any worse.. it just has.
The Financial Times reports….
Australia’s corporate regulator has ordered Slater & Gordon to produce documents in relation to an investigation into the accuracy of its financial records, sending shares in the law firm down more than 7 per cent.
S&G has faced a string of issues with authorities in the UK and Australia following its disastrous 2015 acquisition of the professional services arm of UK-based Quindell, now known as Watchstone Group.
S&G — one of the world’s first publicly listed law firms — said in a statement to the ASX on Wednesday that the Australian Securities and Investments Commission had served it with two notices to produce documents relating to an “investigation into the accuracy of financial records and accounts of the company for the period between 1 December 2014 and 29 September 2015”.
Asic’s probe “seeks to determine whether those financial records and accounts were deliberately falsified or manipulated and whether the company or any of its officers have committed offences”, S&G said.
The Melbourne-based law firm said it would comply with the notices and co-operate with Asic. The documents are to be produced later this month and in early January.
Shares in S&G closed down 7.6 per cent at A$0.245 on Wednesday.
https://www.ft.com/content/3d182870-c721-11e6-8f29-9445cac8966f
