Quindell share price drops sharply as trading resumes

Quindell’s share price is down sharply after trading in the insurance outsourcer’s shares resumed this morning.

The shares started trading at 7.30 at 79p, down 37% on the 124.75p they were trading at before trading was suspended on 24 June.

The shares are now trading at the 89p mark, down 36% on the previous closing price.

Quindell suspended trading of its shares until its full-year 2014 results were published.

The insurance outsourcer published its results yesterday, which revealed it had overstated 2013 profits in its professional services division by £145m.

The company also revealed yesterday that it is being investigated by the Serious Fraud Office over historical business and accounting practices.