Gotham is a firm that specialises in producing negative analysis on a listed company, and then profits as the share price falls.
In the past, the firm has targeted US companies Ebix, Tile Shop and Blucora and its latest attack, on Quindell, focused on the group’s acquisitions, cashflow and profits in a 74-page dossier.
Quindell, which had reached a valuation of £2.3bn through more than 20 acquisitions during the past four years, immediately hit back in a regulatory statement, calling Gotham’s claims “highly defamatory” and “deliberately misrepresentative”. A letter by Dorsey & Whitney, the company’s lawyers, called the allegations “scurrilous remarks” that were “false and malicious”.
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