Quindell PLC (QPP) Responds To Report, But Fails To Convince Investors

After Gotham City Research released a scathing report on Quindell PLC (LON:QPP) (OTCMKTS:QUPPF) questioning the company’s earnings and setting a price target of 2p, Quindell saw its stock price quickly drop from 39p to less than 24p. Two days later, it has come back with a detailed refutation of Gotham City’s allegations, but its complicated rebuttal leaves the impression that a thorough look at the company’s books might be warranted. Rationale behind Quindell’s complex transactions unclear One example is Gotham City’s claim that between 2009 and 2010, Quindell PLC’s (LON:QPP) (OTCMKTS:QUPPF) largest customer was ClicksUs4.com, a company owned by Quindell…