Financial services firm Hargreaves Lansdown is facing a multi-million pound lawsuit over its promotion of disgraced stockpicker Neil Woodford’s equity fund.
The Bristol-based FTSE-100 company is being sued by claims management business RGL on behalf of 3,200 investors, who were among hundreds of thousands of people left with significant financial losses when the Woodford Equity Income Fund (WEIF) collapsed in 2019.
RGL has filed a claim with the High Court and is seeking up to £100m in compensation from HL and fund administrator Link Solutions. It is the third lawsuit brought against Link in relation to the fund, but RGL is the first to target HL over its participation in the scandal.
