Woodford Campaign

  • The Group Litigation Order (GLO) request was heard in court between 15th and 20th December 2022. The request was a joint submission by Leigh Day and Harcus Parker, with a subsequent request from RGL to be included.
  • Surprisingly, the judge decided against granting a GLO, favouring instead bespoke case management by the court, and requested by the defendant, Link. This means that there won’t be any imminent deadline for registering with a claim.
  • The claims will still be run on a group basis for all claimants of Leigh Day and Harcus Parker. The judge has set deadlines for these law firms to press ahead with pleadings, with Link’s Defence due in May 2023.
  •  Leigh Day joined forces with Harcus Parker in requesting a Group Litigation Order, as announced on 15 June 2022.
  • 90% of the 300,000 who could claim are yet to claim. Provision of information about this, together with the need for regulatory reform, will be the Campaign focus over the coming months.

ShareSoc invites everyone concerned about Woodford, particularly investors in the LF Woodford Equity Income Fund (WEIF), the LF Woodford Income Focus Fund (WIFF), Woodford Patient Capital Trust plc (WPCT) and Hargreaves Lansdown Multi-Manager Funds (MMF), to join the ShareSoc Woodford Campaign as either a free Associate or as a Full ShareSoc member.

Plus Special Offer for Woodford Campaign Members: Upgrade to FULL MEMBERSHIP OF SHARESOC FOR ONLY £30 – a 33% saving on your first year’s membership. Our special offer has been extended and expires 31/12/23.



WATCH THE RECORDING OF THE 19 July 2022 WEBINAR – ‘The Cavalry is Coming’


Many individual investors lost money as a result of the dramatic loss in value of assets within investment vehicles managed by Woodford Investment Management Limited. ShareSoc is keen to establish whether there is realistic recourse available for affected investors, to ensure that the events which harmed individual investors are properly examined, and to press for changes in regulations and regulatory enforcement that will improve standards and accountability.

We are pleased that multiple legal initiatives have surfaced with the intention of investigating the matter and of seeking redress.

Campaign members will receive updates from ShareSoc, and can participate in the Campaign Forum to exchange views with other investors. Membership of the campaign is not limited to Woodford investors.

Decision Tree for potential claimants

The multiple claim routes and the uncertainties surrounding each make for a difficult decision process for affected investors, which needs to take account of their individual circumstances.

ShareSoc has prepared a decision tree (click here to view), based on its current understanding of the situations. Potential claimants may find this of interest and helpful in considering their own decisions.

Further details about our campaign are in the sections below:


Our campaign objectives are to:

  1. facilitate communication between Woodford investors
  2. help affected Woodford investors recover their losses where possible
  3. hold to account those who contributed to those losses through action or inaction
  4. improve the way regulators regulate

Our primary aim is to provide information and facilitate communication in order to assist investors in gaining compensation for losses suffered, where we believe there is a reasonable opportunity for them to do so. This will be how we will measure our success.

ShareSoc also believes that the actions and inactions of those involved in the scandal should be properly examined, and that there should be clear consequences for any failure to exercise proper care in the management and administration of individual investors’ money.

The Woodford scandal also raises questions about consumer education and about the structure of funds holding less liquid assets, how they are marketed, and the roles and responsibilities of the various parties involved.

ShareSoc will also be campaigning to change the regulations and/or the way the regulator enforces the regulations, to ensure this type of scandal does not happen again.

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Latest Updates

18 February 2023, Update 11, Time to Act!
11 January 2023, Update 10, The GLO outcome, which claim to join and FOS news
30 July 2022, Update 9, Report on 19 July 2022 Woodford Webinar
– 15 June 2022, Update 8, ShareSoc issue Press Release re GLO and webinar
– 21 October 2021, Update 7, Leigh Day Launch proceedings
– 30 September 2021, Webinar Woodford what happens next?  CLICK HERE TO WATCH THE RECORDING OF THE WEBINAR

– 10 July 2021, Update 6, Woodford Campaign Update
– 19 May 2021, Update 5, Woodford Campaign Update
– 9 March 2021, ShareSoc/Mello Event – The Woodford Debacle
– 8 March 2021, Update 4, Woodford Webinar, LBA and other news
– 21 Feb 2021, Update 3, Campaign news re Woodford press coverage and 9th March Webinar
– 31 Jan 2021, Update 2, Campaign Update Jan 2021
– 19 Nov 2020, Update 1 – ShareSoc launches Woodford Campaign
– 17 Dec 2020 – ShareSoc webinar to introduce the Campaign and Claim

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A Note of Caution

Nothing in this campaign (including our endorsement of specific third-party initiatives) constitutes an accusation or assumption of guilt on the part of any person or persons. ShareSoc is not a party to any legal action.

Subsequently to (and independent of) our decision to endorse the Leigh Day claim, ShareSoc entered into a cooperation agreement with Leigh Day under which ShareSoc provides certain campaign-related services in return for which it receives a monthly stipend.

Investors must review the information available and reach their own decisions with regard to any course of action.

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The Leigh Day Group Claim Against Link Fund Solutions Limited

ShareSoc has followed the development of five legal redress initiatives relating to Woodford funds. After careful due diligence, we have elected to endorse the action proposed by Leigh Day, a leading litigation firm.

Leigh Day is pursuing a claim on behalf of individuals who invested in the Woodford Equity Income Fund (“WEIF”).  WEIF was suspended in June 2019, and its winding-up was announced in October 2019.

Leigh Day’s investigations have led it to believe that Link allowed WEIF to hold excessive levels of illiquid or difficult-to-sell investments, and that this caused investors significant harm.  They consider Link breached the rules of the FCA Handbook and failed to properly carry out the management function of the Woodford Equity Income Fund.

Leigh Day is accepting clients on a no-win-no-fee basis with each claimant’s contribution to the costs of the litigation being capped at no more than 30% (including VAT) of any compensation received. Leigh Day has secured the necessary funding and insurance.

To join the Leigh Day Claim click here. If you join the Leigh Day claim, don’t forget to also join our campaign.

At present there are no legal claims announced for investors in WIIF, WPCT or Hargreaves Lansdown’s MMFs. ShareSoc thinks it is possible that claims may arise against WIIF, WPCT and/or MMFs, and are asking campaign members to register if they held any of these funds.

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Why ShareSoc Chose to Endorse the Leigh Day Claim

 We considered:

  1. the relevant Counsel’s opinion
  2. the status and reputation of the firm
  3. the fact that no payment is required from claimants
  4. the level of the cost cap
  5. the proposed distribution mechanism for distribution of any award.

      We concluded that it was, and remains, in the interest of individual investors to join the Leigh Day claim. We have recently (23 November 2022) reviewed the latest available information about the claims and have reaffirmed this view.

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      Eligibility to join the Leigh Day Group Claim

      Leigh Day are currently only able to bring claims on behalf of those who invested directly in WEIF and were affected by the fund’s suspension. In other words, investors in WEIF, who had money locked in the fund when it was suspended, will be able to instruct them to pursue a claim against Link for compensation. This includes those who used a platform to buy shares in the fund.

      If you invested in a fund which in turn invested in WEIF (e.g. the HL Multi-Manager Income & Growth Fund), unfortunately, Leigh Day are currently unable to assist you with a claim in respect of those shares. They are still investigating how they can assist these investors.

      If you have suffered loss as a result of investing in WEIF, please feel free to complete the sign-up form to join the group claim.

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      Join the ShareSoc Woodford Campaign

      To join the Woodford Campaign, please complete the form at the bottom of this page.

      Your personal data will be held securely and confidentially, in accordance with our privacy policy. When you join the campaign, you will be registered as a member of ShareSoc, if you are not already a member. You can choose to join as a full member or remain an associate member free of charge.

      We would, of course, prefer that you join and support ShareSoc as a Full Member. We are currently offering Full membership for only £30 (normally £45 a year). CLICK HERE for the discount code, further details and joining instructions.  If you prefer to join our campaign as an Associate (free) member, please scroll down and use the form at the bottom of this page.

      ShareSoc is a not-for-profit organisation with a Board of Directors who are all unpaid, working to improve the rights of retail shareholders. We engage with companies, regulators, and the Government with this objective.

      If you wish to make a one-off voluntary contribution to support the activities of ShareSoc please go to this page of our website: Donations. 

      Campaign Members’ Forum

      ShareSoc has set up an exclusive Forum for Leigh Day claimants, potential claimants and ShareSoc Woodford Campaign members to exchange views. We will also be inviting lawyers from Leigh Day to provide Q&A and Zoom sessions if appropriate. Join our campaign to access and contribute to the forum.

      Forum discussions are moderated. Libellous comments, threats, and discussion of privileged matters will not be permitted. Critical opinions are of course to be expected, but we ask contributors to be polite and observe basic courtesies. Comments which fail these tests will be removed.

      This forum is open to all, although you will be required to register as an associate (free) member of ShareSoc to gain access. Once you have joined ShareSoc, you will have to login to your ShareSoc account (the button is on the top right of screen) to access the Forum.

      ShareSoc will receive a retainer from Leigh Day for providing the Forum and other advice/assistance.

      ShareSoc has recently set up a Facebook Group which is quite active and is well worth joining. https://www.facebook.com/groups/1497300790725884/

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      How to Assist in the Campaign

      The ShareSoc Woodford Campaign is led by Cliff Weight. We urge anyone who would like to assist in the Campaign to get in touch initially via an email to  info@ShareSoc.org noting any particular interests and skills you have.

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      Cliff Weight – ShareSoc Woodford Campaign Leader

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      Press Coverage

      Links to the latest media coverage are on the Woodford Forum https://www.sharesoc.org/forums/topic/latest-news/



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