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G4S fights to limit GBP100 million fraud action by 'unidentifiable' investors

By Annie Robertson ( November 18, 2020, 16:57 GMT | Insight) -- Private security group G4S is fighting to limit the scope of a multimillion-pound action by its “unidentifiable” shareholders for allegedly concealing fraud in its contracts with the UK government, a London court was told today. A group of 93 shareholders — which includes units of Wells Fargo and Allianz — is seeking damages of more than 102 million pounds, following alleged misconduct by G4S in 2013 that caused its share price to fall.Private security group G4S is fighting to limit the scope of a multimillion-pound action by its “unidentifiable” shareholders for allegedly concealing fraud in its electronic-monitoring contracts with the UK government, a London court was told today....

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