RGL Management has confirmed it will pursue its legal case against Hargreaves Lansdown over the platform’s continued recommendation of the former Woodford Equity Income fund up to the date of its 2019 suspension.
Following its initial case from October 2022, representing roughly 3,000 claimants, RGL is preparing a second claim for a further 4,000 investors, who have since joined the class action. Woodford investors set for first Link settlement payment as ACD makes distribution The claims are based around allegations that investors suffered losses as a result of HL continuing to recommend the WEIF right up to its suspension, despite the platform "being aware of the fund's longstanding portfolio diversification and liquidity issues". RGL is also claiming damages for the loss of opportunity t...
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