Lee Wild with an article in Interactive Investor dated Thursday 27th November 2014 at 16:09 pm stated Quindell loses huge contract. Stating a source claiming to be close to senior management that Quindell had lost a contract with one of the UK’s largest accident management companies.
Lee Wild stated in the article that “paranoia and panic” at Quindell following a board meeting.
In the next 20 minutes before the market closed the shares went down 7% in value.
The allegation was then refuted by Quindell after the market closed.
In other words the article was completely false and any reasonable person would come to the conclusion this was a case of market manipulation.
In my opinion Lee WIld’s article about Quindell was a blatant attempt to manipulate the share price. If you read Lee Wild’s other articles I am sure like me you would find it difficult to take his journalistic skills seriously.
When are the relevant authorities going to take action?