Hargreaves Lansdown has been hit by a multi-million pound lawsuit over continuously promoting Neil Woodford’s equity income fund, which led to thousands of investors suffering losses.
RGL, a claims management company, said it had launched the lawsuit against the FTSE 100-listed firm in London's High Court on Friday (14 October) on behalf of an initial 3,200 investors. The case is based on HL's continued promotion of the former flagship LF Woodford Equity Income Fund (WEIF) on its 'best buy' list, which it did so until the day the fund collapsed. In a separate lawsuit, RGL is also suing Link Fund Solutions, the fund's authorised corporate director, for up to £100m. This is the third lawsuit levied against Link over the way it handled the fund. Wallace partner Al...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
