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Aberdeen Standard seeks legal action against Provident Financial

The UK-listed subprime lender saw its shares plunge last summer after its second profit warning of 2017 and the departure of its CEO

Aberdeen Standard seeks legal action against Provident Financial

Aberdeen Standard Investments is considering suing UK-listed suprime lender Provident Financial over failures to disclose a regulatory investigation into its Vanquis Bank subsidiary.

If legal action is brought by the €638bn fund manager it will be another blow to Provident, which saw its shares plunge in August after it issued its second profit warning of 2017.

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