Welcome to RBoS Shareholders Action Group
We are currently pursuing legal action on behalf of more than 27,000 investors who lost money by subscribing for shares during the 2008 RBoS Rights Issue.
We believe the directors of the bank acted improperly by misrepresenting the underlying strength of the bank at the time and by omitting critical information from the Prospectus. This led to tens of thousands of shareholders taking part at an over-inflated price.
We are the only group suing RBS that represents individuals, including bank branch staff and pensioners, as well as the large institutions. These are people who could ill-afford to be misled over investments that were supposed to keep their families financially secure.
In mounting its defence, the bank is spending more than £100m in legal fees to, in effect, take on its own employees and shareholders. It is also using this vast sum to defend some of the most vilified figures from the financial crisis, including former chief executive Fred Goodwin, who has already been stripped of his knighthood for his failures and dangerously risky decisions.
We will make sure our members get the compensation to which they are entitled.
The trial commencing 22nd May 2017 will take place in Court 15 of the Rolls Building, Fetter Lane, London EC4A 1NL (See MAP Here).
Guardian, 25th May 2017
A group of 'diehard' shareholders determined to see the former Royal Bank of Scotland chief executive Fred Goodwin in court are refusing to accept a settlement in their £700m legal claim against the bank.
FT, 25th May 2017
A group of 'diehard' Royal Bank of Scotland shareholders intent on seeing the bank's disgraced former chief executive Fred Goodwin in court are leading resistance to a settlement with the state-backed lender in a £700m lawsuit.
BBC, 24th May 2017
Lawyers representing 9,000 Royal Bank of Scotland shareholders have been granted another adjournment in a court case that was meant to start on Monday and has already been delayed twice.