Funds Insider - Opening the door to funds

Welcome to the Citywire Funds Insider Forums, where members share investment ideas and discuss everything to do with their money.

You'll need to log in or set up an account to start new discussions or reply to existing ones. See you inside!

Notification

Icon
Error

Legal Action - Woodford Equity Income Fund
Julianw
Posted: 16 September 2021 17:50:24(UTC)
#21

Joined: 28/07/2016(UTC)
Posts: 405

Thanks: 902 times
Was thanked: 694 time(s) in 286 post(s)
What is a DIY investor:
-things go well, you can give yourself (and lady luck) a pat on the back
-things go bad, you take it on the chin

Nobody put a gun to your head to buy anything. You pulled the trigger, so own it! That is the lesson to be learned.

If you think its the fault of HL, press etc; you are not learning the right lesson.
1 user thanked Julianw for this post.
Big boy on 16/09/2021(UTC)
Richard_L
Posted: 01 November 2024 16:02:44(UTC)
#22

Joined: 02/11/2013(UTC)
Posts: 14

So do you legally have to pay the Leigh Day 30%, fee, plus VAT I assume? e.g. if I hadn't joined their claim, or it hadn't have existed, I would have got the same pittance of 'compensation' repayment anyway; with no 'fee' + VAT to pay!?
Tim D
Posted: 01 November 2024 16:41:34(UTC)
#23

Joined: 07/06/2017(UTC)
Posts: 8,883

Thanks: 33209 times
Was thanked: 24362 time(s) in 7229 post(s)
That was my understanding based on stories like
https://www.thetimes.com...l-fees-latest-0x2xjdv9w
(or paywall bypass at https://archive.is/KjLfd )

Of course if investors hadn't participated/funded the legal teams, it's possible nothing would have happened at all. Also worth noting that in UK law there isn't really the same concept of a "class action" like there is in the US, and it's entirely possible if things had played out differently then only signed-up participants in the case would have got anything back.

I got a pittance back too (this is an instance where I'm very glad of my atomized PF and that I never subscribed to the too-many-holdings-police's "no holding less than 5%" dogma), and there was a communication from the lawyers that they'd bill me in due course. But so far I've heard nothing further (unless there's been a sneaky debit from my SIPP - where the units were held and where the "compensation" was paid - I haven't noticed, or the compensation was actually paid net). What's prompted this topic being resurrected now? Are they now asking for their fee?
1 user thanked Tim D for this post.
Richard_L on 01/11/2024(UTC)
allocator3844
Posted: 01 November 2024 17:07:42(UTC)
#24

Joined: 27/10/2020(UTC)
Posts: 190

Thanks: 213 times
Was thanked: 280 time(s) in 99 post(s)
I received correspondence from Harcus Parker (HP) on the 2/4/24 mentioning a fee but haven't heard since.
1 user thanked allocator3844 for this post.
Richard_L on 02/11/2024(UTC)
Richard_L
Posted: 01 November 2024 18:57:56(UTC)
#25

Joined: 02/11/2013(UTC)
Posts: 14

Yes email, to confirm amount and complete payment of their fee (so effectively an invoice), from Leigh Day arrived today.

So what's the case if you were also signed up with someone else; e.g. Harcus Parker; I assume you've got to pay them too!?
3 PagesPrevious page123
+ Reply to discussion

Markets

Other markets