Several articles have appeared recently indicating that several organisations, namely Muddy Waters, Bronte Capital and Citron Research have recently questioned the viability of the Quindell business.
As an investor in Quindell I have looked at these allegations rather than base my understanding on ‘sound bites’.
Muddy Waters Research carry out due diligence based on investigation based research. They are US based and have an expertise in uncovering fraud.
Muddy Waters Research have made no accusation of fraud by Quindell and are not investigating Quindell.
The allegation can be tracked back to a tweet posted by Muddy Waters Research on the 13th October. This tweet had a link to an article regarding a conversation with Robert Terry. No mention whatsoever is made in the article regarding an alleged fraud.
Groundless unsubstantiated accusation.
Bronte Capital are Australian based and blog about investments both negatively and positively.
No report has been published about Quindell. The allegation has no substance or credibility.
Citron Research are a stock commentary website with a track record of uncovering fraud.
No report or allegation has been published about Quindell. The allegation has no substance or credibility.
Allegations that these organisations have published reports that question Quindell’s business are clearly false. Detractors are using very tenuous links or false accusations to question Quindell’s business.
For longterm share holders this is a positive as indicates despite hours and hours of research nothing of any substance is being uncovered that undermines the Quindell business.