Shareholders Add Serco Ex-Director To £128M Fraud Suit

By Silvia Martelli (June 17, 2022, 3:14 PM BST) -- Security outsourcer Serco shareholders have added one more former executive to its £128 million ($157 million at today's prices) lawsuit for allegedly misleading investors about government contracts that led to a fraud scandal.

Allianz Global Investors GmbH and Aviva Life & Pensions UK Ltd., as well as dozens of other shareholders, accuse former Serco Group PLC executive Clive Barton in a June 7 High Court amended of particulars claim, which has recently been made public, of knowing of or ignoring the fraud.

Barton, along with four executives previously named in the suit, knew that Serco repeatedly published misleading or false statements...

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