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Equitable still to face legal action

Thousands of policyholders will pursue legal action against Equitable despite its compromise scheme being passed by members, says a law firm acting on their behalf.

Class Law Solicitors says it welcomes the results of the vote as it stabilises the society but insists legal action will still begin next week on behalf of UK and international policyholders.

It says the legal moves will be based on the “non-disclosure by Equitable of the existence of the guaranteed annuity policies which affected the value of the Equitable itself”.

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