Boohoo investors launch modern slavery lawsuit

The allegations date back to 2020 when a damning report by The Sunday Times exposed severe labor violations. Employees at Boohoo’s Leicester factories were reportedly paid a meager £3.50 an hour, well below the national minimum wage.

They were forced to work under unsafe conditions, lacking access to essential personal protective equipment amid the COVID-19 pandemic. These claims were later substantiated by an independent review led by barrister Alison Levitt KC, intensifying the fallout from the exposé.

The new lawsuit asserts that Boohoo made misleading statements and failed to disclose critical information about the labor conditions promptly. These actions have significant implications under the Financial Services and Markets Act 2000.

Investors argue that the concealment of these practices and the subsequent media revelations led to substantial financial losses, as Boohoo’s share price plummeted, erasing more than £1.5 billion from its market value…