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Lies, Damned Lies and The Mail's Jeff Prestridge on Neil Woodford as Hargreaves Lansdown faces a class action

By Tom Winnifrith | Sunday 16 October 2022


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


The Mail on Sunday's Jeff Prestridge has a scoop. There is a class action being launched against Hargreaves Lansdown (HL) for telling customers to buy Woodford funds when it was already aware that there were problems so bad that its own funds of funds were selling Woodford units. Good news. All those who stuffed folks into Woodfgord and ignored warnings that we started flagging up in 2015 should be held accountable. So who else was a massive Woodford supporter from 2015 until the funds were gated in 2019, even saying there was nothing to worry about the day BEFORE the gating? Er...

The Mail on Sunday, of course, and Jeff Presstrip himself, a man who wrote bullish comment on Woodford for two decades up to 2019, never once questioning the great fund manager and who dismissed the red flags we posted in 1000 podcasts, videos and videos from 2015 to 2019 as baseless, telling his readers to average down all the way. In return Jeff got numerous scoops, tip offs as to what Neil was buying and "exclusive interviews". Were there any press trips and freebies  for Jeff,? Perhaps, now that he believes in transparency, he might tell us all?

But as you can see in the headline below the Mail views its involvment with Woodford as heroic. Yes it was three years ago that the Mail warned but that was AFTER funds were gated! The Ship had sailed and Mail readers were locked in thanks to that appalling advice given by that paper and especially by Jeff Prestridge himself in countless articles.

How about someone launches a class action against Presstrip?

 

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