Law firm Anthony Philip James & Co (APJ) has issued 500 cases to the Financial Ombudsman Service (FOS) against Liberty Sipp.
On behalf of clients who lost money when investing with Liberty Sipp, the cases relate to mis sold SIPPs. The total value is £18million.
The solicitors hope to get their clients compensation to restore their funds, putting them back into the position they would have been before investing.
A high volume of clients was accepted by Liberty Sipp from an unregulated introducer, who APJ claim were unsuitable for SIPP investments.
The 500 cases were initially halted by the FOS “possibly due to ongoing court cases including Adams v Carey Pensions and the Berkeley Berke judicial review,” according to APJ solicitor Glyn Taylor.
The APJ cases against Liberty Sipp are now being considered by the FOS.