The forthcoming case will be one of the biggest against professional advisers in the UK.
Companies likely to be in the dock are Barclays Private Clients, NatWest and Aberdeen Asset Management. Investors will claim either negligence, misleading marketing material or a breach of regulatory business conduct rules.
The action is expected to be filed in June.
Investors Sue For £30m
Some investment trusts issue more than one type of share. They are called split level investment trusts. The trusts are difficult to understand and can be risky investments. About 1,000 investors are now planning to sue around 30 firms for approximately £30m for mis-selling zero dividend split level trust shares as a 'low-risk' investment.
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