Woodford Investors Target Hargreaves In Group Action

Law360, London (May 11, 2020, 7:01 PM BST) -- A group of investors who lost money in Neil Woodford's flagship £3.7 billion ($4.5 billion) equity fund are dragging asset manager Hargreaves Lansdown to court for continuing to recommend investments right up until the fund locked investors out, a representative action firm said Monday.

Litigation firm RGL Management said it has built a case against Hargreaves Lansdown for losses caused by the Woodford Equity Income Fund being wound up after it shut savers out in June 2019. The open-ended fund, which should be able to pay out to investors at any time, ran into problems last year when it found it was...

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