Independent 10 years on - the broker response

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Tomorrow's anniversary marks the demise of Independent an event that supported the maxim "too good to be true".

A profit warning at the beginning of 2001 was followed by a stream of bad news and the insurer's share price fell from 400p to 81p when trading was suspended on 11 June.

Pricewaterhouse Coopers were soon called in as provisional liquidators on a road that eventually led to a Serious Fraud Office investigation. Eventually, six years later, CEO Michael Bright, deputy managing director

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