Many moons ago, I wrote here about a new breed of public company — a publicly-traded law firm — that had managed to continue to report surging earnings and bright prospects during the thick of the financial crisis while the rest of the world spiraled down the drain. The law firm, Slater & Gordon, is publicly traded in Australia and has been a major player in pursuing cases for plaintiffs in Australian securities class actions.
Last week, however, Slater & Gordon saw its own stock price plummet after a review by the UK government proposed cracking down on “whiplash fraud” by denying compensation to people who claim to have minor whiplash injuries from car accidents. Slater & Gordon reportedly has a significant business in the personal injury/car accident area, SkyNews reports.
