Press Release 119:
Compensation for Woodford investors
Major milestone hit by Leigh Day claim

 

  • Leigh Day commences legal proceeding on behalf of investors in Woodford case
  • Half a million Woodford Equity Income Fund investors now need to do 3 things:

 

Join the ShareSoc Woodford Campaign

 

 

 

Leigh Day, the leading group action law firm, today sent its Letter Before Action (LBA) to Link Fund Solutions Limited (Link), on behalf of over 4,000 registered clients. This is the first formal legal step in the group action on behalf of investors in the Woodford Equity Income Fund (WEIF) against Link (the authorised corporate director legally in charge of the Woodford fund).

ShareSoc, the not-for-profit UK Individual Shareholder Society, endorsed Leigh Day’s legal claim.

ShareSoc Chairman, Mark Northway, commented “Getting justice for those who suffered losses in the Woodford funds will be a battle, but we are delighted that this essential first step has been taken, and it reinforces our belief that Leigh Day are best placed to manage this action for all investors. ShareSoc reviewed the various potential claims and concluded that the Leigh Day claim is tightly managed and is best structured to maximise financial returns to investors. This Claim is also a key plank of the ShareSoc Woodford Campaign to improve regulation and hold wrongdoers to account.

Free Webinar for Woodford investors

ShareSoc and Mello Events, in partnership, have arranged a new free event for Woodford investors and any others who wish to attend, the Woodford Debacle – Reflections, Redress and Reform from 6pm to 8.30pm on 9th March, reviewing what went wrong with Woodford, the various claims for redress and what steps investors should take, including how to claim. Potentially investors can recover up to 70% of losses.

ShareSoc Director Cliff Weight said “We want all of the many potential claimants to hear why they should join a claim. We believe that pursuing compensation, in this case, benefits all investors because success will result in higher standards of behaviour in the future.”

ShareSoc Director Amit Vedhara added “Our Woodford Campaign is an essential element in a claimant’s armoury. It is key to keeping claimants up to date with developments and acts as a liaison with the Leigh Day claim. I can’t stress enough that you should tell your friends, even if you didn’t lose money with Woodford, it’s almost certain that some of your family or friends did.”

Media contact:

Cliff Weight, ShareSoc Director and Woodford Campaign Director.

ShareSoc, the UK Individual Shareholders Society

ShareSoc is the UK’s largest retail shareholder organisation. ShareSoc is dedicated to the support of individual investors. We aim to make and keep investors better informed, to improve their investment skills and to represent their best interests. See www.sharesoc.org.

ShareSoc’s Woodford Campaign objectives are to:

  1. Facilitate communication between Woodford investors
  2. Help affected Woodford investors to recover their losses where possible
  3. Hold to account those who contributed to those losses
  4. Improve the way regulators regulate.

Leigh Day’s website is at:

Www.woodfordpayback.co.uk

https://www.leighday.co.uk/latest-updates/cases-and-testimonials/cases/woodfordlink-group-claim/ gives further details of their claim and how to join it.

https://www.leighday.co.uk/latest-updates/news/2021-news/insurers-back-leigh-days-group-claim-on-behalf-of-woodford-equity-income-fund-investors/ gives further details of claim insurance cover.

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