Lloyds joins suit against RBS over rights issue


At issue is Royal Bank of Scotland's (RBS) £12B rights issue during the crisis in 2008, and hundreds have alleged they were misled and claimed damages of about £4B. Through nine of  its pensions and investment management subsidiaries, Lloyds (LYG) has joined the action, seeking £420M.

This week marked the six-year anniversary of the sale, the cut-off point at which damage claims must be submitted. RBS, at this point, has indicated no intention of settling.

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Comments (1)
  • gerardwalsh
    , contributor
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    It is important that this action succeeds, otherwise FSMA 2000 will be a useless piece of legislation and anarchy will prevail in the City. I wonder why it is Shroders didn't join, how are they on the fiduciary duty likewise F & C of course.
    22 May 2014, 11:10 AM Reply Like
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