Investors in an unregulated oil scheme have alleged negligence in a lawsuit that they hope will establish the principle that “introducers” who informally endorse investments can be held responsible

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http://www.ft.com/intl/cms/s/0/31bdc458-c74b-11e4-8e1f-00144feab7de.html#axzz3UFFEetSI

March 11, 2015 12:29 pm

Lawsuit targets investment ‘introducers’

Judith Evans

Investors in an unregulated oil scheme have alleged negligence in a lawsuit that they hope will establish the principle that “introducers” who informally endorse investments can be held responsible.The case comes as sweeping reforms give retirement savers much more freedom in how they use their pension savings, giving rise to concerns that some may make risky investment decisions.

A group of investors in Armadillo Energy Inc, an offshore oil partnership which has stopped paying out returns, and two other linked schemes, accuse ex-financial adviser John Patrick Robertson, of Solihull, in a case due for trial in the High Court’s chancery division in September.

Read more: http://www.ft.com/intl/cms/s/0/31bdc458-c74b-11e4-8e1f-00144feab7de.html#axzz3UFFEetS

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