Woodford Equity Income Fund

Policy and Campaigns – Progress Update 14 June 2021

ShareSoc News Item by Director Cliff Weight In May and early June, we worked on: Woodford Campaign: Leigh Day received their response from Clifford Chance to their LBA (Letter Before Action). It looks like the case will go to court but it could take 3 more years. Leigh Day remain the only claim with insurance and funding in place. Harcus Parker have funding but do not have ATE insurance. RGL have neither insurance nor funding (other than funding for an initial ...

Woodford Claims and the Financial Ombudsman Service – Update 19 May

We (Boz Michalowska from Leigh Day and me) met with the Financial Ombudsman Service (FOS) on 7th May. They have received 549 claims so far relating to Woodford, Link, Hargreaves and IFAs. They have resolved 3 at final decision stage and these were simple cases against IFAs. We were given no evidence to suggest that the FOS route is likely to have a quick nor successful resolution. ShareSoc cannot give financial advice and individuals must of course make their own decisions. ShareSoc ...

Latest Woodford Press Coverage

Woodford continues to attract much press coverage and we have set up a Forum page for our members so that all those who are interested can quickly see all the latest news and can also access previous articles. The Forum link is https://www.sharesoc.org/forums/topic/latest-news/ If you visit this topic you can subscribe so that you can get an email when there is an update and/or a comment. This is done by clicking the "Subscribe" link at the top of the topic page. Also, if ...

Seminar on Woodford Legal Case

Yesterday evening I attended a webinar hosted by ShareSoc on a proposed legal action over the substantial losses suffered by investors in the Woodford Equity Income Fund (WEIF). It was chaired by Mark Northway and Cliff Weight with other speakers being Boz Michaelowska from legal firm Leigh Day and David Ricketts. The latter is a financial journalist who has written a book entitled “When the Fund Stops” which covers the past events at the Woodford funds and which will be published ...