The SFO has closed its investigation into Worthington Nicholls Group. The investigation had opened in March 2008.
After full and detailed consideration of the evidence gathered during the investigation, we have determined that there is not a reasonable prospect of conviction in the Crown Court.
Worthington Nicholls Group was an AIM company involved in air conditioning installation & maintenance. Allegations were made that after listing in 2006, a number of announcements were made to the market which were misleading and led investors to buy shares in the company at artificially inflated prices. The investigation was conducted together with Cheshire Police and looked at around £30 million of share purchases. In June 2008 a number of residences were searched in Cheshire.
Update as at 7 March 2012
SFO investigation discontinued.