High Court orders claimants to provide disclosure to prove investment decisions were made in reliance on defective publications in the Tesco section 90A FSMA group litigation

In the claims brought by shareholders of Tesco under section 90A Financial Services and Markets Act 2000 (“FSMA”) relating to false and misleading statements allegedly made by Tesco regarding its commercial income and trading profits in 2014, the High Court has ordered that the claimants must provide disclosure of documents that will assist the court … Read more

Upcoming webinar – Class actions in England and Wales: Shareholder actions – The Lloyds/HBOS litigation

On Monday 9 December (1-2pm UK time), Harry Edwards, Ceri Morgan and Sarah Penfold will deliver a webinar for Herbert Smith Freehills clients and contacts looking at the judgment in the Lloyds/HBOS litigation, Sharp v Blank [2019] EWHC 3078 (Ch), which was handed down by the High Court on 15 November. Herbert Smith Freehills acted for the successful defendants to the action. … Read more

The transition from LIBOR: FCA conduct risk warning and next steps

Over the past couple of weeks, the FCA has released two important communications in the context of the discontinuation of LIBOR, which is expected to cease after end-2021. On 19 November 2019, the FCA published a paper setting out a series of questions and answers for firms about conduct risk during LIBOR transition. Then on … Read more

BANKING LITIGATION PODCAST EPISODE 13: MONTHLY UPDATE – NOVEMBER 2019

In our monthly update podcast, we look at key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Emma Deas. Also listen on Apple or Spotify. You can find links to … Read more

Banking Litigation Podcast Episode 12: SPECIAL EDITION – The Lloyds/HBOS Litigation: the outcome, implications and litigation top tips

In this special edition of our banking litigation podcast, we consider the first judgment in a shareholder class action in England & Wales in Sharp v Blank [2019] EWHC 3078 (Ch) (also known as The Lloyds/HBOS Litigation). Also listen on Apple or Spotify. In rejecting the claim brought by a group of shareholders against Lloyds relating to its acquisition … Read more

Regulation in Focus Podcast Episode 1 – November 2019

Our FSR and Corporate Crime colleagues have released the first episode of Regulation in Focus, a podcast series of short, sharp insights into regulatory issues that matter to you. The first episode, a bumper cross-border edition featuring partners Hannah Cassidy (Hong Kong), Natalie Curtis (Singapore) and Chris Ninan (London), focuses on information flows in cross-border … Read more

LIBOR Transition – The Documentary Challenge for Corporates (ACT webinar)

The Association of British Treasurers (ACT) recently held a webinar focusing on the documentary challenges for corporates arising from the discontinuation of LIBOR. Our partners Harry Edwards (Disputes) and Nick May (Finance) joined the panel. The session considered the key legal challenges and pitfalls that corporate treasurers need to be aware of, how legal advisers … Read more