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Slater & Gordon Limited share price soars again after horror week

Shares in battered lawyer Slater & Gordon Limited (ASX: SGH) have soared again today – on top of a 35% rise yesterday – to make back some of the ground they lost last week.

source: Google Finance

source: Google Finance

While they still remain down some 63% in the past five days (as at the time of writing), the share price has soared as investors were reassured by management’s recent announcement that the company remained able to meet its obligations to financiers.

Management also believes that the outlook for personal injury claims remains robust despite proposed legislative changes in the UK, and this could see the share price continue to rise throughout the week.

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Motley Fool contributor Sean O'Neill has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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