Kiltearn Partners says it “considered participation in civil legal action against Carillion with a view to recovering a proportion of its clients’ crystallised losses” following its profits warning last summer. This evidence was released on Monday, as MPs prepare to question the company’s auditor KPMG at a hearing on Thursday. “On one hand the Carillion directors told us all was sunny until a bolt of Qatari lightning hit them out of the blue,” Field said. Kiltearn owned a 10th of Carillion’s shares last summer, but began selling after the July 2017 profit warning. Reeves said: “It’s a tragedy for those who have lost their jobs and the suppliers left struggling for survival that Carillion directors ignored these issues.

Source: The Guardian February 19, 2018 06:00 UTC