On Friday the 5th November, Mr Justice Miles refused the application by a defendant to strike out a group claim brought by over 70 Institutional Investors under s.90A of FSMA. Peter de Verneuil Smith QC, who represents the claimants, successfully argued that there was a realistic prospect of all claimants showing at trial that they were entitled to an extended limitation period under s.32 of the Limitation Act 1980.
The decision is of significant importance for all s.90A claims and for limitation strike outs more generally in respect of securities litigation.
Peter was instructed by Neill Shrimpton of Brown Rudnick LLP and led Shail Patel and William Harman of 4 New Square.
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