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Mis-selling Costs Homeserve Millions In Stock Shares

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Posted by Brenna McKinley at 13:01 on 30 Nov 2011
Category: 
News & Updates

Home emergency insurance company Homeserve continues to lose the faith of stock shareholders following last month’s investigation into mis-selling.

An independent investigation by accountants at Deloitte found instances of mis-selling in Homeserve’s UK telephone marketing department, causing Homeserve’s stock to plummet by more than 50 per cent at the end of October.  In response, Homeserve temporarily discontinued all outbound telephone sales activity until nearly 500 staff members could complete a retraining program.