RBS Investors Launch $6B Suit Over Pre-Bailout Stock Sale

Law360, New York (April 3, 2013, 1:20 PM EDT) -- Shareholders slapped The Royal Bank of Scotland Group PLC on Wednesday with a £4 billion ($6 billion) lawsuit in London's High Court, charging that executives concealed the true motivation for 2008 stock sale that was quickly followed by disclosure of huge losses and a government bailout.

The RBOS Shareholder Action Group, which says it represents 12,000 individuals and 100 institutional investors, accuses the company of "misrepresenting the underlying strength of the bank and omitting critical information" when it five years ago offered shares worth £12 billion. Just months after the sale, RBS shares collapsed, and the company had to be rescued...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!