Link Fund Solutions is set to face another legal challenge regarding its role in the collapse of Neil Woodford's flagship fund in 2019, as Harcus Parker began court proceedings against the authorised corporate director.
The multimillion-pound claim was filed on Friday (3 June), representing 1,500 claimants, with further claims to come as campaign has a further 5,500 investors already signed up.
This adds to Leigh Day's case, which formally brought proceedings against Link back in September 2021, representing more than 11,000 claimants, arguing the ACD had failed in its responsibility to monitor the fund.
Link said of the Leigh Day case that it would "vigorously defend the claim".
Calls grow for FCA to end 'deafening silence' as Woodford update 'adds insult to injury'
RGL Management launched its legal cases against both Link and also Hargreaves Lansdown in March 2021, with the case brought against the platform for its recommendation of the former Woodford Equity Income fund to clients right up until its suspension three years ago.
RGL's letter before action, sent by London law firm Wallace, claimed that HL failed to "provide accurate, adequate and up-to-date information" about the Woodford fund in the days leading up to it being frozen.
Earlier this year, Link warned investors that the wind-up of the fund's assets was likely to outlast 2022, while others called for the Financial Conduct Authority to end its "deafening silence" over its investigation.
