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London-based litigation associate Jonathan Cary and partner Jo Rickard's article outlining the basis on which shareholder action groups may bring claims under section 90 of the Financial Services and Markets Act 2000 was published in the August issue of PLC Magazine. Cary and Rickard discuss the possibility of collective actions under section 90 being brought by shareholder action groups in the English courts concerning prospectuses published by banks in the midst of the financial crisis.
The article considers questions such as the legal basis on which shareholder action groups may bring a claim under section 90 and reasons why such claims may not yet have been started. It also provides practical guidance for issuers to help limit potential liability.
Practices
