Neil Woodford investors sue administrators of collapsed fund

Law firm brings group litigation aiming to recoup at least 18m on behalf of 1,500 people

Investors who lost millions in the collapse of a fund run by the former star stockpicker Neil Woodford have brought group litigation against the administrator in hopes of recouping at least 18m.

The law firm Harcus Parker lodged its first batch of claims on behalf of 1,500 savers at the high court in London on Friday morning. Woodford himself is not the target - the claim is against the administrator of his fund, Link Fund Solutions, which is accused of failing in its duty to protect investors. Lawyers expect to expand the suit to represent at least 7,000 claimants.