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Browse: Home / 2009 / October / 06 / UK Pension Funds Leaving 25% of Class Action Settlement Funds on Table

UK Pension Funds Leaving 25% of Class Action Settlement Funds on Table

By Securities Docket on October 6, 2009, 11:16 am

moneytable230A firm called Goal Group estimates that U.K. local authority pension schemes could be losing up to £125m by not filing claims in securities class action settlements.  IPE.com reports that Goal Group calculates that between 2007 and 2008, U.K. local authority pension schemes lost almost £8.5bn on their investments, of which around £140m could be recovered through legal action.

The firm also estimates that local government pension schemes (LGPS) in the U.K. lost around £31bn between 2007 and 2009 but have the potential to recover £500m through settlements. If local authorities do not start to increase their participation in such settlements, however, as much as 25% of this £500m could go unclaimed.

Read the IPE.com article.

Posted in Global | Tagged Class Actions, Settlements

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