Two law firms representing Woodford Equity Income Fund victims team up to cut costs and share resources
Two of the law firms representing savers trapped in Neil Woodford’s doomed fund have joined forces.
Leigh Day and Harcus Parker, which were both pursuing a claim against Link Fund Solutions for its supervision of the fund manager, will unite their 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 fell apart in 2019.
Legal fight: Some 2,500 savers suffered losses when Neil Woodford’s Woodford’s Equity Income Fund fell apart in 2019
Both law firms are also urging any savers who still have money stuck in the Equity Income Fund to join their claim. They believe 300,000 investors could have been affected by its collapse.
The Equity Income Fund collapsed after a run of poor performance caused too many investors to try to pull their money out. They are still waiting to get their money back as £140.9million is still tied up.
Link was supposed to supervise Woodford’s management of the fund. It has denied any liability to investors and claims it did not breach any rules.