If you own shares of Slater & Gordon Limited (ASX: SGH), I urge you to look away now.
Shares of the legal eagle were trading roughly 8% lower shortly before noon, before getting absolutely poleaxed.
They fell more than 53% to just 90 cents and have fallen 71.6% over the last week, down from $3.17 per share.
Today's share price collapse followed a market-sensitive announcement regarding proposed changes by the UK Government which, if implemented, would impact on the rights of people injured in road traffic accidents.
Slater & Gordon doesn't expect the changes to impact its earnings guidance for this year, but it very well could in the future.
Fellow law firm Shine Corporate Ltd (ASX: SGH) has also fallen more than 6% for the day.
