ShareSoc News Item by Cliff Weight, Director
At the 9 March 2021 Woodford webinar, there were over 100 questions from the 947 people registered. Many were answered on the night. Leigh Day have now produced answers to the unanswered questions which are conveniently grouped into 7 different themes.
Mello Woodford webinar - questions and Leigh Day responses final (07-04-2021)
The Investors Chronicle have published on 30 March 2021 a useful table comparing the 4 ongoing Woodford Claims:
ShareSoc endorsed the Leigh Day Claim, in November 2020 on the basis of information available at that time. The table highlights that the Leigh Day claim and Harcus Parker claim are both against Link, both have funding and insurance, and similar numbers of claimants, but Leigh Day is only charging 30% versus 42% for Harcus Parker.
RGL is only part funded and says on its ...
The Financial Times mentioned ShareSoc's recent Woodford webinar, where a poll of more than 800 former Woodford investors found just 5 per cent were persuaded to back him by independent financial advisers. According to our poll, the majority of the participants used either investment platforms or fund supermarkets, which allow investors to select funds themselves.
Click here to read the article.
The Woodford webinar organised by ShareSoc and Mello Events was featured on Investment Week on 10/03/21
Woodford investors 'must be prepared to go all the way to trial'
The article, signed by James Baxter-Derrington, quotes ShareSoc's director Cliff Weight, who called for a "significant change in culture" in the FCA when investigating cases like Woodford.
Solicitors Leigh Day, whose claim ShareSoc has endorsed, have now submitted their Letter Before Action (LBA) to Link Fund Solutions Limited.
ShareSoc and Mello Events present a new free event, Woodford Debacle – Reflections, Redress and Reform from 6 to 8.30pm on 9th March, reviewing in detail what went wrong with Woodford, the various claims for redress, what steps investors should take.
We urge everyone to tell their Friends and Family about the Campaign, Leigh Day Claim and the webinar. ...
A ShareSoc news item by Cliff Weight, Director.
Portfolio Adviser carries a detailed report on Leigh Day sending its Letter Before Action (LBA) to Link in relation to the Woodford debacle, with quotes from ShareSoc Chair Mark Northway.
“It’s fantastic news that another critical milestone has been hit in Leigh Day’s legal claim against Link. We are delighted for Woodford WEIF investors and gratified that we have endorsed this claim,” said Sharesoc chairman, Mark Northway.
“Sharesoc reviewed the various potential claims and concluded that ...
1. ShareSoc and Mello Events will present a free event, Woodford Debacle – Reflections, Redress and Reform from 6pm to 8.30pm on 9th March. We will review in detail what went wrong with Woodford, the various claims for redress and what steps investors should take, including how to claim.
2. ShareSoc’s Press Release of 6 February formally launched our Campaign just before Neil Woodford announced his “apology” and his return to fund management.
3. Leigh Day, whose claim ShareSoc has endorsed, has secured ...
The Woodford interview in the Telegraph https://www.telegraph.co.uk/business/2021/02/13/exclusive-neil-woodford-launch-comeback-fund-says-sorry-did/ has generated an enormous amount of media coverage including this excellent coverage for ShareSoc in the FT.
https://www.ft.com/content/3c029f46-3cb4-4a74-a4cc-b74c3fe687df Neil Woodford’s relaunch plan prompts calls for independent inquiry
The FT article includes these quotes from ShareSoc and Leigh Day:
Cliff Weight, a director at shareholder rights’ group ShareSoc, said Woodford’s plan to return to managing money had “appalled” retail investors.
“It is a huge kick in the teeth for those whose money Woodford lost,” he said.
ShareSoc is supporting a ...
The Sunday Telegraph has run a puff piece of PR for Neil Woodford in which he says, “I am sorry”. https://www.telegraph.co.uk/business/2021/02/13/exclusive-neil-woodford-launch-comeback-fund-says-sorry-did/
Well, I am sorry too. I don’t accept Neil Woodford’s apology. WoodfordPayBack time is here.
Woodford says that Link were wrong to close his fund, which led to a fire sale of many of his investments. I do at least agree with him on this.
It is a scandal that events occurred so that shares in illiquid assets had to be sold at ...
https://www.thisismoney.co.uk/money/markets/article-9234205/Neil-Woodford-fund-savers-begin-legal-battle-compensation.html. This article explains the key milestones that have been achieved and refers to ShareSoc :
More than 3,000 people have signed up to the case, which is backed by retail investor association ShareSoc, and a mass marketing campaign will encourage more people to join.
The article also notes that "Up to 500,000 people were affected by the Woodford scandal". We hope that many will join our campaign and ShareSoc to help make the investing world a better place.
This publicity follows on from ...