We had quite a lot of enquiries about Thomas Cook and what actions shareholders might take. We have until now adopted a watching brief. We recently had a teleconference with a legal firm about potential claims against other companies, directors and advisers. I raised Thomas Cook and it was explained that as the company had gone into administration there is no practical way forward. Even if a claim were successful, any amounts recovered would go first to the receiver as they have first call on all creditors. So it is not worth pursuing a legal claim and it would be impossible to get any lawyers to work on such a claim.
So that is it. Sorry to be the purveyor of bad news.
It is however worth noting some of the concerns of members, simply for the record:
ShareSoc member A:
I’ve lost a significant amount of money, like many others, on the recent decisions Thomas Cook has made. I’d based my investments on both public announcements, my own research and analysis, and a couple of e-mails from their investor relations department, who confirmed that individual shareholders were indeed one of the groups that they were looking to get the best deal for, and that we would hear more on 18th July.
I can think of numerous options that would be more beneficial to all stakeholders and without disclosing airline bids and other discussions, I feel that TCG have been extremely misleading and secretive. Only recently they claimed to have received multiple bids for the airline, and yet now, apparently, this D4E option seems to be the only way forward.
Is there any productive way forward do you think?
Thanks and kind regards
Hi I would like to know if you are forming a group to organise getting legal advice for Thomas Cook shareholders concerning the proposed take over by Fosun?
What can actually be done regarding Thomas Cook Misleading the shareholders?
I read yesterday about Thomas Cook and enquire if you the people to contact about getting shareholders money back following the Thomas Cook share price dropping.
If so please could you add me for money back please. If not then please pass my contact details to that organisation and inform me who they are.
Thank you for your attention.
We remain very concerned about the gleeful optimism of some RNS, trading statements, annual and interim reports. We have made known our general concerns about this matter to the FCA and they are aware of our views.
Cliff Weight, Director, ShareSoc
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