Market monitor

Alternative business structure Quindell has quashed a news report of more problems for the AIM-listed company which led to a late dive in its share price yesterday. The share price was up sharply in early trading.

Former Quindell executive chairman Rob Terry has formally lost his right to buy back nearly 9m shares in the company under the sale and repurchase agreement that led to his resignation.

‘Dispersed’ firm Keystone Law has set out an ambitious growth strategy for the firm in the wake of taking external investment, which will see it more than double the number of its offices.

The “traditionally wide” knowledge gap between lawyers and consumers is “narrowing all the time”, Canadian futurologist Jordan Furlong told delegates at this week’s Legal Futures Annual Conference.

Genus Law, the Leeds-based alternative business structure formerly known as Brilliant Law that is backed by gambling entrepreneur Bert Black, has made its first acquisition. The purchase of niche employment firm Pharos Legal is a “model for what we’re going to do going forward”.

Law firm network Connect2Law has this week been relaunched with a new format and seven ‘platinum’ members who will work alongside leading alternative business structure Parabis.

The pressure on AIM-listed alternative business structure Quindell has today resulted in founder and executive chairman Rob Terry resigning from the board of directors with immediate effect.

Almost one in four top-250 law firms are considering securing some form of external equity investment, according to a survey. The highest proportion said they would look to raise between £5m and £20m, many to fund acquisitions.

The turmoil at AIM-listed alternative business structure Quindell – which lost 45% of its value last week – has continued unabated this morning after announcing that its financial adviser and joint broker has resigned.

The shares of alternative business structure Quindell plc suffered yet another dive yesterday after it emerged that the company’s largest institutional investor has halved its stake in recent months.

Alternative business structure Quindell plc suffered another day of dizzying collapse in its share price on Tuesday, with a second consecutive 20% fall. The AIM-listed legal outsourcing business has now lost more than half of its value in just three weeks.

QualitySolicitors founder Craig Holt is joining online legal business LegalZoom – which claims to be the best known legal brand in America – to spearhead its UK expansion, Legal Futures has learned.

City law firms have quietly embraced innovation in the way they deliver legal services, but are going to have to face up to greater change in the coming years, the first Legal Futures Special Report has concluded.

The share price of AIM-listed alternative business structure Quindell plc tumbled 20% yesterday as the company sought to reassure investors over the details of three directors’ dealings in the shares.

London firm Hodge Jones & Allen has teamed up with a leading academic to pioneer a predictive model of case outcomes that will enable the firm to better assess the viability of its personal injury caseload.