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Punt. I was in profit too.
I only lost 1.5k so I'm probably quite lucky, relatively. But lesson learned: do your research.
AlanTrader1,
sufsid said earlier they will setup a Facebook and Instagram page.
I cant believe the last few months.
£200,000 here lost £300,000 elsewhere.
So depressed
How can this happen while the board and people involved can walk away with our billions
Where is the dreaded rns?
I would guess you would have to go after the board of directors directly.
The RBS and Tesco shareholder litigation involved going concern companies. Any NMC shareholder litigation might not, so how would shareholders get paid compensation?
I am in...
In the UK the major law firms are within the 'Magic Circle'...
Allen & Overy
Clifford Chance
Freshfields
Linklaters
Slaughter and May
I've not slept much last night and need some rest. Hopefully this helps us... How do we plan to communicate once this chat closes?
Rahman - yes you can join group litigation, try emailkng Karolina at slatergordon as one of the posters suggested
Agree with MH01, don’t wait for others, if you have lost money then start emailing the solicitors yourself below. The more emails the better. Good luck all.
I am with all of you but unfortunately can't have any money to spend as I had all my money invested here. So if it's possible to take legal action without spending more money, please let me know as that's all I have for my family.
I have added spaces to attempt to ensure it doesn't get removed:
www. cliffordchance.com/ people_and_places/ people/partners/gb/ian_moulding.html
www. cliffordchance.com/ people_and_places/people/partners/gb/christopher_yates.html
https:// haines-law.com/ contact-us
My list so far. Please contact them and let them know you exist and want help and justice.
3 I received engagement from:
Slater & Gordon: karolina.kupczyk @ slater gordon.co.uk
Charles Lyndon: Dorothea Antzoulatos dorothea@charleslyndon.com,
Edwin Coe: David.Greene@EdwinCoe.com, cc Jessica.Bourke@edwincoe.com
3 mentioned below that I reached out to this morning:
https://www.cliffordchance.com/people_and_places/people/partners/gb/ian_moulding.html
https://www.cliffordchance.com/people_and_places/people/partners/gb/christopher_yates.html
Stewarts Law: Sean Upson supson@stewartslaw.com
https://haines-law.com/contact-us
NMC health collapse highlights many issues . 1. LSE corporate governance ? 2. E & Y accounting governance? . 3. Banks lend NMC money recklessly ?. 4. Shetty , CEO and some Board of directors committed biggest corporate fraud of modern times. 5 and much more . There is definitely elements of fraud , Breach of Duty of care towards stake holders , Negligence, etc . NMC is gone busted but LSE is still operating and so E&Y . I am going to create a facebook and instagram page for those who are interesting to pursue this legally here in UK . I know there is very slim chance of recovering money but at least we can push for better governance and push for other parties to make liable for this fraud. We will not know unless we try .
Has anyone else approached any solicitors? No point waiting for someone else to do it. I sent messages to the 3 lawyers noted below that I did not know of - Clifford, Stewarts and Haines. We need all shareholders to start contacting the lawyers, not just one or two. They need to realise the severity of this and that can only occur through thousands of shareholders making noise to be heard. Please reach out to those listed below.
We need a group litigation against the directors. Buttis and prasanths and shettys. If anyone in uk manages to get one together let me know
Also, can someone please create a page on another social media site, so we can continue the discussion there, as I feel this BB will be **** down the company goes into admin soon.
Guys, I am in too. Let’s take these m0f0s to court, we might not get much if anything back (since they are going into admin due to lack of funds) but we can’t let these c0nts get away with this!! No wonder ars3 whole Butti’s and BR were selling stock for £12 under the cover of bank margin calls. We need to go after them rather the company, caus company isn’t going to pay us ****, it’s penny less already. Does anyone know if we can as a group of shareholders sue, Manghats, BR and Buttis etc.??
at slater gordon .co.uk (all one word at = @)
karolina.kupczyk at slatergordon.co.uk
karolina.kupczyk @ slatergordon.co.uk
The 3 firms that replied to my enquiries are named below in order of engagement. 1 being multiple telephone calls and emails, 2 being 1 telephone call and emails, 3 being a couple of emails.
1. Slater & Gordon: karolina.kupczyk@slatergordon.co.uk
2. Charles Lyndon: Dorothea Antzoulatos dorothea@charleslyndon.com,
3. Edwin Coe: David.Greene@EdwinCoe.com, cc Jessica.Bourke@edwincoe.com
They all advised that they will research the company and situation. Group litigation requires many aggrieved shareholders to be viable so please reach out to these lawyers and let them know you would join an action. Obviously the situation is still unravelling itself and the expert consultants engaged by NMC are yet to release a report. So without all the facts a case will take time to build and will only be pursued by the lawyer if they think the probability of winning is high and there is money available to claim from NMC.
Karolina advised they two options may be available, group litigation which is no cost to the shareholder as it is externally funded, and going after directors which will cost and would be worth considering if they are high net worth.
David wrote I should refer you to my book but here’s a synopsis. You can claim in London for misinformation to the market causing stock drop. The claim is against the company and potentially directors under section 90A. You are thus rather dependent on their liquidity. There is not a claim against the auditors (which is different in the States) save possibly for prospectus claims under section 90. Investors buying in the London market have no claim in the States because of a decision of the US Supreme Court a few years ago called Morrison.
Read the cliffordchance report...
Group Litigation Orders: GLOs are a case management tool available in the English courts that provide a straight forward ‘opt-in’ procedure for claimants to join a class action. This is particularly effective for encouraging retail investors to join a claim. The RBS Rights Issue Litigation (where there were 9,000 claimants), and the Lloyds/HBOS case, are prime examples of the successful use of GLOs in shareholder disputes.
‘After the Event’ insurance: ATE insurance products cover
the claimant’s liability to pay the defendant’s costs if the claim is unsuccessful. This, together with third-party litigation funding, has reduced the notional downside of bringing high-value and complex shareholder claims as much (if not all) of the costs exposure associated with an unsuccessful claim has been shifted onto the funders and insurers
Specialist claimant law firms and claims managers: Claimant law firms have long been a feature in the US securities litigation market and are now driving many of the UK’s group actions. These firms can take the lead in co-ordinating claims, reaching out to prospective claimants, arranging the funding and insurance coverage, and then conducting the claim. Claimant firms can operate under conditional fee agreements, and so are incentivised to pursue claims to trial or settlement.
Guys, try Sean Upson @ Stewart’s law, he successfully led the Tesco claim.
https://www.stewartslaw.com/people/sean-upson/#head-nav
Dogger - I need to take this further this has taken away my life savings (£56,000) I couldn’t come too terms with that, what are the chances of recovering the money?