Woodford Investment Management: "Not Appropriate" to Comment on Rossi/IH Lawsuit (Citywire.co.uk)

An article published in Citywire, a British website for financial professionals covers the Rossi/IH lawsuit:

http://citywire.co.uk/money/woodford-tech-holding-hit-by-fraud-claim/a911347

It’s of interest to the British investment industry because Woodford Investment Management has invested $50 million in Industrial Heat. There’s not a great deal of new information for people who have been following the story, but for people not so familiar with the case it provides the key information. It also includes a statement that Woodford put out, which is similar to other recent statements they have made about their IH investment:

Woodford Investment Management said it was ‘not appropriate’ to comment on the lawsuit. ‘Industrial Heat is currently working with numerous scientists to build a diverse portfolio of innovative technology, such as low energy nuclear reactions, in the quest to eliminate pollution,’ it added.

‘We continue to share this quest for what we believe could be a significant development and exploitation of new energy sources.’

Andrea Rossi has stated that representatives from Woodford did visit the 1MW E-Cat plant while testing was going on and were updated on the progress of the testing; however Woodford has never publicly mentioned Andrea Rossi or the E-Cat in anything they have said about their IH investment, possibly because they became aware of problems in the relationship.

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