Member Info for MH01

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.

I have contacted several lawyers the past month. Of which 3 contacted me. Since I cannot join a USA class action from the UK I asked about group litigation in the UK. It’s probably a lost cause but worth a try. I’ll share the details of the 3 later once I get up.