Two Law Firms Representing Woodford Equity Income Fund Victims Join Forces to Reduce Costs and Share Resources
Two of the law firms representing the savers trapped in Neil Woodford’s doomed fund have joined forces.
Leigh Day and Harcus Parker, who were both pursuing a lawsuit against Link Fund Solutions for its oversight of the fund manager, will join cases to cut costs and share resources.
The combined claim will represent more than 2,500 savers who suffered losses when Woodford’s equity income fund collapsed in 2019.
Legal battle: Some 2,500 savers suffered losses when Neil Woodford’s Equity Income Fund collapsed in 2019
The two law firms are also urging any savers who still have cash locked up in the equity income fund to join their petition. They believe that 300,000 investors could have been affected by its collapse.
The Equity Income Fund collapsed after a series of poor performances that caused too many investors to try to withdraw their money. They are still waiting to get their money back as £140.9million is still on hold.
Link was supposed to oversee Woodford’s management of the fund. He has denied any liability to investors and says he broke no rules.