Diligent shares surge after broker upgrades rating, saying 34 percent fall ‘overcooked’

Wed, 07 Aug 2013

By Tina Morrison Aug 8 (BusinessDesk) – Shares in Diligent Board Member Services, the governance app maker hit by a slew of administrative mis-steps, surged after brokerage Craigs Investment Partners upgraded its recommendation to ‘buy’ from ‘hold’, saying a slump in the share price was overdone. Shares in New York-based Diligent jumped 11 percent to $6, making it the best performer on the New Zealand stock exchange today. The shares have slumped following a series of accounting errors by the company, which said on Tuesday it would have to re...

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