Class Actions in the financial sector

Shareholder litigation is the legal practice whereby shareholders in a company sue for losses incurred by mismanagement or illegal activity. Most commonly known as class actions, these sorts of cases are brought by groups of individuals or companies, which share the same situation. Cases include negligence claims against accountants involved in auditing bankrupt companies, fraud or financial mismanagement. These measures are often financed by other financial companies and are a long way away from local community level class actions. UK based corporations should ensure that they are aware of the potential impact and risks posed to their businesses from this sort of litigation.

Class actions balance

In the United States, the potential settlement available to shareholders pursuing this type of action runs into billions of dollars. It is vital that anti-fraud and bad practice mechanisms are in place in the UK. Established in 2007, Goal Group Recoveries Limited’s professional staff support individuals and companies which have been financially negatively affected by negligence or bad practice in corporations in which they hold shares. Goal Global Recoveries Limited is a wholly owned subsidiary of the GOAL Group. It staff have many years experience in senior roles within the financial sector in securities and taxation. Its clients from the UK, USA and Europe represent a range of different interests, such as hedge funds, private banks, fund managers and high net-worth individuals. For further information and advice on possible claims, see www.goalgroup.com.