Q&As

Is there a limitation for bringing claims under sections 90 and 90A of the Financial Services and Markets Act 2000 by shareholders?

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Published on LexisPSL on 17/11/2015

The following Dispute Resolution Q&A provides comprehensive and up to date legal information covering:

  • Is there a limitation for bringing claims under sections 90 and 90A of the Financial Services and Markets Act 2000 by shareholders?

Is there a limitation for bringing claims under sections 90 and 90A of the Financial Services and Markets Act 2000 by shareholders?

Section 90 of the Financial Services and Markets Act 2000 (FSMA 2000) outlines the requirements for compensation for statements in listing particulars or prospectus’ and FSMA 2000, s 90A establishes a statutory civil liability regime for misleading statements in periodic disclosures to the market by issuers of securities admitted to trading on EEA regulated markets.

FSMA 2000, s 90 states that:

'(1) Any person responsible for listing particulars is liable to pay compensation to a person who has—

(a) acquired securities to which the particulars apply; and

(b) suffered loss in respect of them as a result of—

(i) any untrue or misleading statement in

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