Shareholders Push Expanded G4S Suit Over SFO Probe

Law360, London (November 16, 2020, 8:56 PM GMT) -- A group of institutional investors suing G4S for allegedly concealing fraud in its government contracts told a London judge on Monday the outsourcing giant waited too long to object to the expansion of the lawsuit.  

Andrew Onslow, counsel for investors including units of Allianz and Wells Fargo, said G4S has lost the right to challenge the addition of claimants because it did not meet a 14-day deadline set out in court procedure rules.

The High Court action accuses the company of misleading the market to inflate its stock price, which fell when a Serious Fraud Office probe was announced in November 2013...

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