Banking Litigation Notes

COVID-19 market disclosures and managing the associated litigation risks

Privy Council confirms that the so-called "reflective loss" principle applies to ex-shareholders

Court of Appeal provides guidance on the "reflective loss" principle and its interaction with the Contracts (Rights of Third Parties) Act 1999

Court of Appeal clarifies proper approach to assessing damages for fraudulent misrepresentation

CJEU considers issuer liability for prospectuses marketed to both retail and qualified investors

Intermediated securities in a securities class action context

High Court determines that reliance issues in context of a s.90A FSMA claim should be heard at first trial

EU Advocate General considers interpretation of Prospectus Directive in relation to an issuer’s liability for a prospectus marketed to both retail and qualified investors

Climate-related disclosures for issuers: further steps towards mandatory requirements?

In November 2020, the UK Joint Government Regulator TCFD Taskforce published its “roadmap towards mandatory climate-related disclosures”, which set out a …

High Court strikes out s.90A FSMA claims for failure to comply with pre-service joinder rules following expiration of arguable limitation period

The High Court has struck out certain of the claims brought against G4S under section 90A Financial Services and Markets Act 2000 (FSMA), in a judgment …

Climate-related disclosures for issuers: FCA publishes final rules

The Financial Conduct Authority (FCA) has published a Policy Statement (PS20/17) and final rules and guidance in relation to climate-related …

High Court strikes out “paradigm” claim for reflective loss in the context of allegedly negligent advice on an IPO