Hope for trapped Woodford investors as court case begins
Claims are estimated to be in excess of £100m
Claims are estimated to be in excess of £100m
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Benevolent AI saw its share price drop from £7.01 to £3.42 per share
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One expert says it ‘feels a pretty low margin business compared to the risk of fines and compensation’
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It is not yet clear what this means for Woodford investors
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On top of the £306m it will likely have to stump up before the watchdog will greenlight its acquisition
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But no word yet on if or how it will be distributed to Woodford investors
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There may be buyers lined up for the ‘remaining rump of firms’, but at what price compared to the valuations when the funds were suspended?
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As watchdog vaunts Spac success and the £35m in consumer redress it secured
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Application has been filed to strike WCM Partners from the Companies House register
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Former Woodford investment trust will instead rely on Schroder’s in-house capabilities
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Investors still trapped in LF Equity Income are not affected, however, as the stake was sold in 2020
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Pooling resources and presenting a ‘united front’ is the most effective way of securing justice for beleaguered investors
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