Hargreaves Lansdown faces second lawsuit over Woodford saga

News Team, 06/08/2020

Law firm Slater and Gordon has said it is considering a case against fund supermarket Hargreaves Lansdown, in relation to the the latter's promotion of funds managed by the now-defunct Woodford Investment Management.

Slater and Gordon said it was investigating on behalf of the estimated 290,000 clients affected by the collapse of Woodford funds.

Hargreaves Lansdown’s alleged wrongdoing mainly relates to its promotion of the Woodford Equity Income Fund via its best-buy lists, despite concern (including internally at Hargreaves) around the open-ended UCITS’s liquidity and performance.

The £3.03 billion fund was gated in June 2019 leading to the downfall of eminent manager Neil Woodford. Some investor money is still trapped in the fund as its wind-d...

Continue reading this article...

Start a free trial now for access to breaking news and cutting edge analysis of the wealth management industry.

You are currently not logged in,
login to view the full article
start by clicking this button.

Need a subscription,
fill out the form here or

About PAM

PAM Insight is the world’s leading independent provider of essential specialist news, analysis and comparative data for the fast-evolving world of wealth management.

Read more about PAM