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A group of RBS (RBS) shareholders plan to launch a £3.3B lawsuit against the bank, ex-CEO...
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Monday, September 3, 2012, 4:09 AM ETA group of RBS (RBS) shareholders plan to launch a £3.3B lawsuit against the bank, ex-CEO Fred Goodwin, and other former execs, the Times reports. The group allege that RBS misled investors about its frailty at the time of a £12B rights issue in 2008, since when shares have plummeted. The group is backed by 91 institutional investors, including HSBC (HBC) and Deutsche Bank (DB), but needs to secure £12M-£15M in case of defeat.
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