Law firm Shakespeare Martineau has been instructed to support online estate agent Purplebricks.
Led by Ed Wright, a partner in the firm’s commercial team, Shakespeare Martineau will be advising Solihill headquartered Purplebricks across multiple disciplines and services.
This includes claims, commercial litigation, reviewing letting terms and tenancy agreements, and supporting agents in drafting contracts for specialist lettings, such as HMOs.
The firm will also be delivering its expertise on a variety of matters including full regulatory compliance reporting, financial regulatory assessments, and data protection compliance.
Ed Wright, commercial partner at law firm, Shakespeare Martineau, said:
“The property sector is one we’re really focused on at the firm and the future looks bright.
“We’re expecting a sector boost over coming months as increases in sales and lettings increase across the board.
“As a multidisciplinary firm, we strive to bolster our clients’ support network and provide a comprehensive service.
“It’s a privilege to be working with Purplebricks, helping to put both the agent and firm front and centre of the property sector.”
The news of the appointment comes a day after two major transactions in Purplebricks’ shares.
JNE Master Fund LP (via J.P. Morgan Securities LLC) purchased a 7.37% stake in the company.
Link Fund Solutions Ltd sold its 10.8% stake.
The sale is part of Link Fund Solutions administration of Neil Woodford’s failed Woodford Investment Management company which once held 20% of Purplebricks’ shares.
The disposal may well have been the final chapter in Woodford’s ill fated involvement with Purplebricks – whose share price collapse last year was widely considered to be a major factor in the start of the downfall of Woodford’s fund.
Comments (4)
An interesting topic, Purplebricks it looks like have got two solicitor companies for the price of one, Shakespeare & Martineau, and whilst over the years I have heard that Purplebricks like to lawyer up – having posted over 200 articles on them, not once have I heard a peep from their legal department.
So great for freedom of speech or testimony that all data etc in my articles etc is triple checked and accurate.
On a separate point in a few weeks the public gets sight of the last annual return of Purplebricks, which though will make for a good read, as after nearly six years of trading will that magic – multi-million cash burn and negative profit result turn the other way? Let us see.
Volunteered or told to?
I sincerely hope that the law firm have not agreed a ‘fair, fixed fee’ for their services…
…and that they get paid regardless of outcome!
Or written another way, ‘PB continues in abject failure of legislative compliance and finally decides it would be cheaper to try and get it right rather than continually face litigation’