Persons Identified In Schedule 1 v Standard Chartered Plc (Rev3) [2024] EWHC 3199 (Ch) (13 November 2024)

Persons Identified In Schedule 1 v Standard Chartered Plc (Rev3) [2024] EWHC 3199 (Ch) (13 November 2024)

Standing will not be deferred to Trial 2; sampling of 12 claimants (6 per side) for standing disclosure is ordered, with further review possible. For Trial 2 issues, 10 sample claimants are ordered to provide disclosure and witness statements, covering all relevant trading windows. Expert evidence on corporate brokering is permitted, with timing as per claimants' proposal. Defendant's disclosure on reliance issues is not ordered without a specific application.

Citation
[2024] EWHC 3199 (Ch)
Parties
Claimant: Persons identified in Schedule 1; Defendant: Standard Chartered PLC
Jurisdiction
England and Wales
Judgment Date
13 November 2024
Procedural Posture
Group Litigation Under Financial Services and Markets Act 2000 / Fourth Case Management Conference (cmc4)
Outcome
Directions given for sampling, disclosure, and expert evidence; no order for defendant's disclosure on reliance issues.
Legal Topics
Standing to Sue, Disclosure, Sampling in Group Litigation, Expert Evidence, Reliance and Limitation, Split Trial Management
Financial Services Law Securities Litigation Civil Procedure Standing to Sue Disclosure Sampling in Group Litigation Expert Evidence Reliance and Limitation +1 more

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Parties

Persons identified in Schedule 1

Claimant

Standard Chartered PLC

Defendant

Procedural Posture

Group Litigation Under Financial Services and Markets Act 2000 / Fourth Case Management Conference (cmc4)

Legal Issues

  1. 1 Whether standing should be determined by sampling or full disclosure
  2. 2 Appropriate number of sample claimants for Trial 2 issues
  3. 3 Scope and timing of disclosure obligations

Ratio Decidendi

Standing will not be deferred to Trial 2; sampling of 12 claimants (6 per side) for standing disclosure is ordered, with further review possible. For Trial 2 issues, 10 sample claimants are ordered to provide disclosure and witness statements, covering all relevant trading windows. Expert evidence on corporate brokering is permitted, with timing as per claimants' proposal. Defendant's disclosure on reliance issues is not ordered without a specific application.

Court Disposition

Directions given for sampling, disclosure, and expert evidence; no order for defendant's disclosure on reliance issues.

Orders

  • 12 sample claimants (6 per side) to provide standing disclosure and witness statements.
  • 10 sample claimants for Trial 2 issues to provide section 2 DRDs by 31 March 2025, disclosure by 15 December 2025, witness statements by 31 March 2026.