×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: RBS | Lawsuit | Cash | Call | Royal | Bank | Scotland

RBS Settles Landmark Lawsuit Over 2008 Cash Call - Sources

RBS Settles Landmark Lawsuit Over 2008 Cash Call - Sources
(Dollar Photo Club)

Tuesday, 06 June 2017 07:14 AM

Royal Bank of Scotland has reached an out-of-court deal to settle a costly and embarrassing lawsuit alleging it misled investors during a 12 billion pound ($16 billion) cash call launched just before its near collapse in 2008, sources said.

Sources familiar with the situation said a majority of shareholders in the group look set to accept an offer after days of intense talks delayed the start of a long-awaited trial.

RBS has offered shareholders 82 pence per share in its latest settlement attempt. The deal will cost the bank roughly 200 million pounds.

The deal draws a line under a five-year lawsuit that was due to call disgraced former CEO Fred Goodwin to testify and has been unprecedented in English legal history for its compexity. 

© 2022 Thomson/Reuters. All rights reserved.


Companies
Royal Bank of Scotland has reached an out-of-court deal to settle a costly and embarrassing lawsuit alleging it misled investors during a 12 billion pound ($16 billion) cash call launched just before its near collapse in 2008, sources said.Sources familiar with the...
RBS, Lawsuit, Cash, Call, Royal, Bank, Scotland
125
2017-14-06
Tuesday, 06 June 2017 07:14 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved