Collective actions

Woodford Investments collective action FAQ

We're investigating claims surrounding the closure of Woodford Investment Management and the collapse of its Woodford Equity Income Fund. We've answered some frequently asked questions for those interested in joining the claim.

Check your eligible to join

Woman looking down at an Ipad

All you need to know about collective actions

Slater and Gordon’s experienced solicitors are here to advise you on all aspects of collective actions. Call us on 0330 041 5869 or contact us and we’ll call you.

Check your eligibility to join this claim

Check if you're eligible

What is the cost of joining the Woodford Investments claim?

We're acting on a Conditional Fee Arrangement ('No Win, No Fee' agreement)*. This means there's no cost to join the claim and in the event the claim is lost, you'll not owe any money to us or the defendants.

If the claim is won, a final deduction of up to 30% plus VAT and the cost of the After the Event Insurance is taken from the compensation you're awarded to cover the cost of your lawyers, funder and insurer.

Full details regarding costs and liability are provided in the contractual documentation included in the joining process for the claim.

*If you lose we'll not ask you to pay or contribute to our legal costs provided that you've not breached your agreement with us. There may be scenarios where you're liable to meet the charges even if you lose. An example is where you have provided us with information that you know to be false or misleading.

How much compensation will I receive if the claim is won?

We cannot currently provide you with exact details as to the value of your claim. The sum payable to each individual claimant will need to be determined by their individual circumstances and financial expert evidence.

That said, all the facts will need to be taken into consideration including how much you invested in the Woodford Equity Income Fund, the date and duration of the investment(s), any disinvestments from the Fund and any payments you received when the Fund was wound up.

We'll advise claimants on any possible losses once they have retained Slater and Gordon as their lawyers in this claim.

Can I join the claim if I invested through an ISA or personal pension?

You can join the claim online if you have invested in the Woodford Equity Income Fund through your Stocks & Shares ISA, Fund and Share Account or Lifetime ISA.

Check your eligibility

Please contact us at admissions.hl@slatergordon.co.uk if you invested through a SIPP or other investment vehicle.

I've joined the claim. What happens next?

Once you've checked your eligibility and signed our client documents, there is nothing else you need to do at this stage. In due course, we intend to write to the potential defendant(s) to set out the claim. If we receive no satisfactory answer, the next step would be to issue claims in the High Court in England and Wales on behalf of our clients.

We envisage that a Claimant Committee will be set up once we have a sufficient number of clients to liaise with us on behalf of all claimants. Please see the contractual documentation available during the sign-up process for details.

We’ll keep you updated on your claim through your micase Woodford platform.

Please note: you must not instruct another law firm in respect of your claim in the Woodford Equity Income Fund at the same time. If you've aleady retained another law firm, then you must cancel that retainer before you agree to ours.

Do the investments in the Woodford Equity Income Fund have to be in my name to sign-up?

In most cases, you cannot sign-up on behalf of someone else. If you wish to sign-up on behalf of someone else, please contact us at admissions.hl@slatergordon.co.uk and we can advise further.

Can I bring a claim on behalf of my minor child?

Yes, if your minor child has investments in the Woodford Equity Income Fund, you can sign up on their behalf. Please contact us at admissions.hl@slatergordon.co.uk for further information.

Can I bring a claim on behalf of a company who has invested in the Woodford Equity Fund?

Yes. Please contact us separately at admissions.hl@slatergordon.co.uk for further information.

Can I sign-up jointly with my partner and/or my child?

No, if you and someone else (including a child) have made separate investments (i.e. in different names), you need to sign-up separately.

Can I use the same email address as my partner to sign-up for the claim?

No, please only use one email address per claimant. If both you and your partner have made separate investments, you both need to sign-up separately.

What if I no longer have my account with Hargreaves Lansdown?

This doesn't affect your eligibility to make a claim. However, please make sure that you download all investment reports you've received in relation to your investments in the Woodford Equity Income Fund before closing your account with Hargreaves Lansdown, if you have not already done so.

Is there a deadline to join the claim?

Currently we've not set a deadline to join the claim as we're still in the early stages of preparing to issue claims. However, a cut-off date will eventually be set.

What if I've already received some money from Link Fund Solutions?

We understand that Link has made several distributions to Woodford Equity Income Fund investors, although we understand that they haven't recovered the full value of their investments. Please let us know what sums you've received and we'll ensure this is taken into account when bringing your claim.

How long will the claim take?

We expect the defendant(s) to defend the claim vigorously. It's difficult to estimate the likely timeframe to resolution, but we anticipate that the litigation could take between two and three years to get to trial from when a claim is issued. This may change depending on the route the litigation takes and the approach taken to the claim by the defendant(s).

It is possible that your claim will be settled by the defendant(s) out of court, which could significantly shorten this estimate.

Search our website
Filter
Filter:
Sorry, we have no results to show
Please try a different search term.
Oops, something went wrong
Please try typing in your search again.
Back to top
woman on a phone

Would you rather speak to us?

One of our friendly advisors would be happy to speak to you.

Call us for free on 0330 107 5052