Woodford

Woodford Campaign Update 3
21st February 2021

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 ...

FT, 17 Feb 2021, Neil Woodford’s relaunch plan prompts calls for independent inquiry

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 ...

Woodford says “I’m sorry” – I don’t accept apology. WoodfordPayBack time is here.

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 ...

Daily Mail, 8 Feb 2021, Legal battle to win compensation for savers in Woodford’s flagship fund kicks off after crucial insurance and financial backing is secured

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 ...

FT, 8 Feb 2021, Woodford investor legal claim secures funding

ShareSoc is quoted at length in this extensive FT article on the Leigh Day claim against Link https://www.ftadviser.com/investments/2021/02/08/woodford-investor-legal-claim-secures-funding/ A legal claim on behalf of investors in the Woodford Equity Income fund has secured funding and the backing of the UK Individual Shareholders Society. In an update over the weekend the consumer body - known as ShareSoc - said it was in the "best interests" of those who lost money in the Woodford saga to join a claim led by law firm Leigh Day, which is now ...

Woodford Campaign Update 1: Jan 2021

Below is the first of what we plan to be regular updates to members advising them of what we have done in this very important campaign. Woodford January NEWSLETTER

Wellesley Investors Action Group

By Cliff Weight, Director, ShareSoc I encourage members to join the Wellesley Investors Action Group. You can do so here https://www.facebook.com/groups/wellesleyp2pcreditorsactiongroup Neil Taylor has brought this to my attention. ShareSoc is very willing to blog and tweet about this and encourage all those who have lost money in Wellesley to consider joining the Wellesley Investors Action Group. They have 300 members already which is a good start. But there were 11,700 investors affected, so ideally all should join the Action Group. The  336 ...

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 ...

Investors’ Chronicle, 31 Dec 2020, Woodford, Misplaced Trust

The Investors’ Chronicle have published a long article today. https://www.investorschronicle.co.uk/news/2020/12/30/misplaced-trust/. We understand the Investors’ Chronicle has 30,000 readers. Most of the article describes what happened. The crunchy bit is at the end….. The mechanics Five law firms have considered the viability of taking legal action, but which is the best one to turn to? ShareSoc, ever the champion of the private shareholder, has endorsed Leigh Day, who decided that Link was most at fault. The firm says that the case stems from Link breaching ...

Mail on Sunday, 29 Nov 2020, ShareSoc has given its backing to Leigh Day class action against Link re Woodford

https://www.thisismoney.co.uk/money/investing/article-8996493/Woodford-Equity-Income-action-wins-key-backing-ShareSoc.html Shareholder organisation ShareSoc backs class action that seeks justice for investors who lost money in Woodford Equity Income By JEFF PRESTRIDGE, FINANCIAL MAIL ON SUNDAY PUBLISHED: 21:51, 28 November 2020 | UPDATED: 21:51, 28 November 2020 also in CityWire Citywire Financial Publishers Sunday Papers: Arcadia collapse sends Debenhams rescue … Mail on Sunday: ShareSoc, the powerful shareholder organisation, has given its backing to a class action being put together by law firm Leigh … 6 hours ago