UK 15:25 Monday, 26 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
On January 12th when giving its misleading trading update Quindell (QPP) commented on the PWC review into its fraudulent accounting policies stating:
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Comments
pink53
So to be clear. You have QPP as a buy with a GBP8 target?
turbograndad
I’m betting a delay, the report is ongoing due to the complexity of the financials, and the lack of due diligence, or loads of crap to that effect.
Then the morons can have more time to make up fairytales and rampathon, and the market manipulators can carry on milking the morons.
Maybe an announcement at no one is watching o’clock, just before the weekend mull, all in all a normal day at the orafice for some.
gateway
Not sure PWC will be released in full to the public, probably just potted highlights. QPP have never said they’ll release the report in full have they?
Rob
When was that BS RNS about there being a material offer? As we know it was rubbished the next day by S&G.
I would not be surprised in the slightest for that to have ramped the shares up in anticipation of the coming clean RNS which must be due at some point. And the last trading day of a month, on a Friday, would surely be a good day for that.
BEECHING
My guess, they’ve had the report since last friday, ramped the share price monday with the duff announcement to sell some P-D-Q (as with the broker resignation they held back whilst selling) Tomorrow the announcement and slump in the share price
rob
The statement says that the review is expected to be completed by the end of Feb, not that anything is going to be published at the end of February or even at all. Updated as appropriate tells me that at some point a summary will be issued outlining the findings and what action has been taken.
My guess is that whatever recommendations have been made have already been addressed, or are in the process of being addressed, and the shareholder update will be issued in a couple of weeks or so.
From my own days of doing these type of audits, the organisation will have been informed at regular intervals as the review has progressed, it won’t just appear out of the blue one morning in the CEO’s inbox (or whoever is running the place). .
James
Hi Tom, i am a little confused. At the top of this article, it states that you have no open positions on QPP yet i thought you had a short open on this and thought i read in a previous article that Evil Knieval had closed his but you werent closing yours? I think you’ve done some excellent work on exposing the more than dubious events that have occurred with QPP but dont understand why you would close a short on a company on which you have a target price of 0p?
Bob
Last experience I had of a PWC ‘audit’ they said what they were paid to say…. or they were not paying attention or competent to produce the ‘audit’ in the first place. Presumably this time around given it is accounting bollocks and does not include ‘technical’ stuff they might have a clue. Expect to be disappointed.
Phil
Tom
I think the official view is the the PWC audit is going slowly.
Once again Quenron fails to meet a self professed expectation
Tom Winnifrith
James
I have NEVER been short. I am a journalist not a trader.
T
James
Hi Tom, thanks for clarifying, i re-read the article and saw i had misinterpreted it. Keep up the good work!