[2] He was an investor in The Gadget Shop and, after the firm went into administration, he later filed a lawsuit for £100 million against former partners Tom Hunter and Chris Gorman.
He alleged Gorman and Hunter had privately acquired Birthdays, ruining a potentially lucrative merger between the retailer and the Gadget Shop.
The lawsuit which cost £100 million was dismissed: Gorman and Hunter had made a loss on their acquisition and the judge described Wood as "evasive"[2] and "a very hard and calculating man".
[2] According to The Wall Street Journal, Wood set up SRM Global Fund in September 2006 raising about $3 billion but by July 2008 the value had fallen by 85%.
[4] Wood blamed the British and American governments for the Financial crisis of 2007–08 saying that Lehman Brothers and Northern Rock should not have been stopped from trading.