Leigh Day is pursuing a claim on behalf of investors in the Woodford Equity Income Fund (WEIF). WEIF was suspended in June 2019, and its winding-up was announced in October 2019.
Leigh Day’s investigations lead it to believe that Link allowed WEIF to hold excessive levels of illiquid or difficult-to-sell investments and that this caused investors significant loss. In doing so, we consider Link breached the rules of the Financial Conduct Authority (FCA) Handbook and failed to properly carry out the management function of the Woodford Equity Income Fund.
As a firm authorised and regulated by the FCA, Link Fund Solutions Limited had a duty to better manage the types of assets that were being held in the fund. Leigh Day is taking legal action against Link for its failure to manage the WEIF in accordance with the FCA Handbook, on behalf of investors affected by the collapse of the Woodford fund. We believe Link should pay compensation to help those investors recoup their losses.