Woodford Investments collective action
Slater and Gordon are investigating possible claims surrounding the closure of Woodford Investment Management and the collapse of its Woodford Equity Income Fund, which has seen millions of pounds in losses for thousands of retail investors who are now trapped in the fund.
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What are we investigating?
Our investigations are currently focused on Link Fund Solutions Ltd and Hargreaves Lansdown.
Why are we investigating Link Fund Solutions Ltd?
Link was and is the Authorised Corporate Director and Fund Manager of the Woodford Equity Income Fund. And, while it delegated investment management functions to Woodford Investment Management, it nevertheless retained significant and extensive regulatory obligations relating to the investments held by the Fund.
We’re investigating whether or not Link fulfilled these regulatory obligations and if not, whether this caused the failure of the Woodford Equity Income Fund. The is likewise investigating the role played by Link in the demise of the Fund.
Why are we investigating Hargreaves Lansdown?
Hargreaves Lansdown promoted the Woodford equity income fund via its Wealth 150 and later Wealth 50 “Best Buy” lists.
The “Best Buy” Lists are a shortlist of Hargraves Lansdown’s favourite funds, which it promotes as being rigorously tested.
But, despite on-going concerns about the size of investments in harder to sell, small and unlisted companies, Hargreaves Lansdown continued to promote the Woodford Equity Income Fund on their “Best Buy” Lists until the fund was eventually suspended.
It appears that thousands of investors invested in and remained invested in the Woodford Equity Income Fund precisely because it was included on these “Best Buy” lists.
We’re considering whether or not the Best Buy lists were misleading and if so whether or not there’s any actionable wrongdoing on the part of Hargreaves Lansdown.
Where's the Woodford investigation up to?
Our investigations are at an advanced stage and we’ve appointed a senior barrister and various financial experts in order to ensure that we’ve the best legal and financial expertise and advice as we press forward.
Anyone who invested in the Woodford Equity Income Fund and suffered a loss or damages as a result has a potential claim against Link.
In addition, those investors who were Hargreaves Lansdown customers and relied on their Best Buy list when deciding to either invest in the Fund or remain invested in the Woodford Equity Income Fund may have an additional basis on which to claim compensation.
Where do I register my interest?
If you’d like to register your interest in pursuing a claim as a result of having lost money in the Woodford Equity Income Fund, please to provide us with your details and we’ll keep you informed of our investigations.
If we consider there’s a valid claim to pursue, we shall invite you to become a client of Slater and Gordon.
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