South-East firm Brachers has been rocked by an £850,000 negligence claim, the firm’s second case this year.
Two former clients are suing the firm for damages regarding the sale of shares from their company Midas IT Services Limited to the Innovation Group (TIG).
Michael Leeks and Andrew Rendell allege they lost more than £850,000 in a transaction that dates back to 2001, when they were unable to sell shares in TIG due to Brachers failing to draw up the correct documentation.
Earlier this year, a goat-farming couple defeated Brachers in the Court of Appeal in a negligence action against the firm. The couple were awarded £224,970 plus 80 per cent of their costs.
Brachers managing partner John Sheath said that there was no connection between the two cases. He said: “It’s just a shame they happened in the same year and that you picked up on it… this is a case that really cries out to be settled.”