Persons identified in Schedule 1 v Standard Chartered PLC

Persons identified in Schedule 1 v Standard Chartered PLC

Standing will not be determined solely by sample at this stage; 12 sample claimants (6 per side) will provide full disclosure and witness statements on standing, with further review next year. For Trial 2 issues, 10 sample claimants will provide disclosure and witness statements, covering all relevant trading windows. Expert evidence on corporate brokering is permitted, with standard timing. Defendant is not required to provide further disclosure on reliance issues at this stage.

Parties
Claimant: Persons identified in Schedule 1; Defendant: Standard Chartered PLC
Jurisdiction
England and Wales
Judgment Date
17 December 2024
Procedural Posture
Group Litigation (financial Services) / Fourth Case Management Conference (cmc4)
Outcome
Directions given; applications largely allowed in part and refused in part.
Legal Topics
Standing to Sue, Disclosure, Sampling in Group Litigation, Section 90/90 a FSMA Claims, Expert Evidence
Financial Services Law Civil Procedure Standing to Sue Disclosure Sampling in Group Litigation Section 90/90 a FSMA Claims Expert Evidence

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Parties

Persons identified in Schedule 1

Claimant

Standard Chartered PLC

Defendant

Procedural Posture

Group Litigation (financial Services) / Fourth Case Management Conference (cmc4)

Legal Issues

  1. 1 Whether standing should be determined by sample or for all claimants
  2. 2 Extent and timing of disclosure obligations regarding standing and reliance
  3. 3 Appropriate number of sample claimants for Trial 2 issues

Ratio Decidendi

Standing will not be determined solely by sample at this stage; 12 sample claimants (6 per side) will provide full disclosure and witness statements on standing, with further review next year. For Trial 2 issues, 10 sample claimants will provide disclosure and witness statements, covering all relevant trading windows. Expert evidence on corporate brokering is permitted, with standard timing. Defendant is not required to provide further disclosure on reliance issues at this stage.

Court Disposition

Directions given; applications largely allowed in part and refused in part.

Orders

  • 12 sample claimants (6 per side) to provide custody chain evidence, unclean trading data, and direct participation evidence for standing.
  • 10 sample claimants to provide disclosure and witness statements for Trial 2 issues by specified dates.