Our team acts for and against shareholders, directors, companies, investment managers and advisers, and companies in asset and wealth management groups in disputes stemming from losses on securities.
We are one of the leading firms in the UK for bringing shareholder group actions. The team was responsible for one of the first large-scale actions in the form of the Lloyds/HBOS shareholder group action. In this case, we acted for more than 6,000 claimants in their claim against Lloyds Banking Group and some of its former directors, alleging breaches of fiduciary duty in relation to Lloyds’s acquisition of HBOS at the height of the financial crisis in 2008.
We have extensive experience of bringing claims under the applicable provisions and legal framework that underpin securities disputes. This includes sections 90 and 90A of the Financial Services and Markets Act 2000, which addresses claims relating to untrue or misleading statements or omissions in listing particulars and other information published by an issuer of securities.
Examples of our work include:
- acting for a group of financial institutions who acquired shares in a hydrogen fuel cell company which went through an IPO on the London Stock Exchange in 2014, who are bringing claims against the company and its former directors;
- acting for more than 200 investors in Home REIT, including several prominent financial institutions, in claims against the company, its directors, former investment adviser, and former alternative investment fund manager following the disclosure of serious issues related to Home REIT’s management.