Dear Mr Pattinson

Thank you for your recent enquiry in which you asked the following:

It has been reported in the press that Wirral Borough Council has engaged
the legal firm of Mishcon de Reya  to pursue a claim for damages against
the company Indivior plc.

The claim against Indivior is that it made false declarations regarding
the effects of its drug Suboxone.

Why is Wirral Borough Council pursuing this claim?

What interest does Wirral Borough Council have in the settlement of this
claim?

We can respond as follows:

Why is Wirral Borough Council pursuing this claim?

The claim is being brought by a number of institutional investors and
Merseyside Pension Fund has joined as the representative claimant of the
investor group. Wirral Borough Council is the administering authority for
Merseyside Pension Fund and the claim must therefore necessarily be in the
name of Wirral Borough Council.

What interest does Wirral Borough Council have in the settlement of this
claim?

In line with the Stewardship Code, Merseyside Pension Fund recognises its
responsibility to ensure the diligent stewardship of its investments.  MPF
undertakes this in a number ways as set out in its Responsible Investment
Policy.  On occasion this may involve litigation with a view to achieving
changes in corporate governance. MPF has investments in Reckitt Benckiser
and Invidior and has joined in litigation with other institutional
investors to hold management to account and seek redress for alleged
corporate malfeasance which directly affects the value of shareholdings. 
The action is being undertaken in such a way so as to not involve MPF in
any financial costs regardless of the outcome of the action. 

We trust this answers your query.

Yours sincerely

Lynette Paterson

Principal Information Management Officer

Resources – Digital and Improvement

Wirral Council

PO Box 290
Brighton Street
Wallasey
CH27 9FQ

Email: [1][Wirral Borough Council request email]

Visit our website: [2]www.wirral.gov.uk

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