28th Apr 2020 18:30
(Alliance News) - Watchstone Group PLC on Tuesday said the UK's Serious Fraud Office will not prosecute the company although an underlying investigation is ongoing.
The SFO opened its criminal investigation into accounting and business practices at Watchstone, formerly Quindell PLC, back in August 2015.
While the underlying investigation into Watchstone continues, the regulator has "determined that the company will not be prosecuted for criminal offences in respect of those matters which were the subject of the SFO's investigation".
Shares in Watchstone ended 7.6% higher at 155.00 pence in London on Tuesday.
By Anna Farley; [email protected]
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