Daily NewsView All News
In August this year, IT staffing specialist, InterQuest Group Plc (ITQ:LSE), announced that contracts with the recently acquired Contract Connections Limited (CCL) had been terminated due to apparent impropriety and alleged fraud within a major client.
Following legal advice, the board has today issued formal notice of a warranty claim against the vendors of CCL for the sum of 3,835,909 Pounds excluding interest and costs.
The board will update investors on this issue as and when appropriate.
As of last trade, InterQuest's shares traded at 55 Pence, +19.57% above the 52-week low of 46 Pence set on 12 August 2011.