RBS court case

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  • RBS court case
  • chrismac
    Member

    I agree it does stink. I have no idea if the litigants have a good case or if they are hoping to recover losses from poor investment decisions

    Premier Icon frankconway
    Subscriber

    It’s about the rights issue and the claim the bank deliberately misled shareholders into investing at the same time the board knew but did not disclose that the bank had just about run out of money and were about to go ‘pop’.

    Premier Icon frankconway
    Subscriber

    They’re trying hard to reach an out of court settlement having been obstructive until now.
    Doubled their offer to shareholders and have racked up massive legal bills.
    The litigants are now split with small shareholders trying to hold out for their day in court – with Goodwin scheduled for 8 june.
    Given the gov’s 70%+ shareholding, I think the treasury have some explaining to do as they effectively control the bank.
    I hope those who are against an out of court can find the funds to continue fighting and finally put Goodwin in the dock.
    I believe his legal fees to date – £6.5mill and counting – have been picked up by the bank which really means by the taxpayer.
    This stinks.

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