In our regular monthly update, we share the latest news from our firm.
In April 2022, our firm was delighted to be one of the founding members of the Collective Redress Lawyers Association (CORLA).
Alongside UK group litigation firms Edwin Coe, Hausfeld & Co, Leigh Day, Milberg London, and PGMBM, CORLA has been established to promote and facilitate reforms and practices that provide effective and ever-improving access to justice for claimants by way of collective redress.
Guy Robson, Vice-President CORLA and a partner at our firm said:
“We are delighted that so many with a deep-seated commitment to collective redress were able to attend CORLA’s launch event at the Law Society. Now that CORLA is up and running, we welcome applications for solicitors, barristers, experts and others to join CORLA and help shape the discussion on the future of collective redress in the UK. Membership details can be found at corla.org.uk.”
Commenting on the launch of CORAL in The Times, Guy said:
“Since group litigation — and other forms of collective redress — has only really taken off recently in the UK, the procedural and practical framework has yet to catch up.”
There is little in the civil procedure rules that discusses group litigation on behalf of multiple claimants. Hence, courts have to “improvise work-arounds or stretch existing rules”, creating inconsistency and ambiguity, and increasing the costs.
Earlier this year, our data breach team launched an action to help those involved in the Parasol security failure claim compensation. And, in April, we issued a notice of potential claim against Optionis Group Limited.
Mark Kenkre, Partner and Head of our Investment Fraud and Mis-selling team, explored the FCA’s plans to replace its current financial promotions regime with one that is more consumer-friendly and rooted in behavioural science.
Mark’s article was published in Compliance Monitor and can be found here.
Associate Alessio Ianiello commented on the FCA’s decision to invoke its emergency powers to stop financial advisers involved in the British Steel Pension Scheme (BSPS) mis-selling scandal from offloading their assets to avoid paying compensation.
Alessio’s comments were published in City A. M. and can be found here.
Mark Kenkre, associate Matt Sumpton and paralegal Ufedo Omale examined the impact of greenwashing in ESG funds on investors, and the potential to seek justice through collective redress.
The article was published in Law360 and can be found here.
Mark Kenkre also explored new models of online banking fraud and highlighted avenues for reform in Solicitors Journal.
Mark’s article can be found here.
We look forward to bringing you more news from across our business next month.
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