Shareholders Value Serco Stock Losses At More Than £128M

Law360, London (February 4, 2021, 6:33 PM GMT) -- Serco shareholders put a £128 million ($172 million) price tag on their lawsuit against the security outsourcing giant over its stock loss following revelations about fraud and false accounting in its electronic tagging services for the government.

In a newly public Jan. 28 filing with the High Court, the shareholder group tabulated the damages they're seeking against Serco Group PLC after its stock slumped in 2013 amid a profits scandal.

Shares had traded around 500 pence in the summer of 2013, but sunk as low as 339 pence after it emerged that a subsidiary, Serco Geografix Ltd, misled the Ministry of Justice...

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