Quindell buyer Slater & Gordon share price halves after George Osborne reveals plans to overhaul to personal injury law
Slater & Gordon shares crashed today, leading the company to lose half of its stock market value, following changes to UK personal injury law.
Shares in the Australia-listed law group, which snapped up Quindell's legal arm earlier this year, were down 51.4 per cent to 0.94 AUD at the close.
It came after the UK government proposed to make it more difficult for people injured in road traffic accidents to claim compensation for pain and suffering in minor soft tissue claims.
Read more: Quindell looks for a new start with name change
"The government's proposal if implemented would restrict the right of people injured in road traffic accidents to obtain compensation for pain and suffering in minor soft tissue injury claims," Slater & Gordon said today.
Slater & Gordon bought Quindell's professional services division for £640m in cash earlier this year.
Since then, Quindell has changed its name to the decidedly more austere-sounding Watchstone Group earlier this month.
