|[April 09, 2014]
Closing Date to Join the RBoS Shareholders Action Group in Its Claims against RBS over the 2008 Rights Issue
LONDON --(Business Wire)--
The RBoS Shareholder Action Group would like to remind all current and
prospective members that the deadline for issuing a claim against RBS in
relation to the Rights Issue of May - June 2008 is fast approaching.
The closing date to join the Action Group is 30 April 2014. The Action
Group regrets that it will not be able to admit late joiners beyond this
date. Given this timetable, the Action Group urges all those who are
considering joining to register their details as soon as possible.
On 28 March 2014 the Action Group announced that it has secured a
£23,500,000 package of ATE insurance and indemnity cover, to protect its
members against the possibility of an adverse costs order in its action
Fred Campbell, speaking on behalf of the Action Group, said: "Our
clim is already progressing through the courts. The Group is
well funded and, with appropriate insurance in place, can afford to
fight tooth and nail with RBS on behalf of its members. For those
who feel misled by the bank and its directors, now is the time to join
our claim and fight for compensation."
To find out how to join the claim, and for more information on the
Action Group, please go to www.rbosaction.org.
- Ends -
Notes to the Editor:
About the RBoS Shareholder Action Group
The RBoS Shareholder Action Group is a not-for-profit shareholder action
group. It represents over 12,000 private shareholders, many of whom are
pensioners, and over 100 institutional investors who lost money in the
2008 RBS Rights Issue.
The Action Group maintains that RBS and its directors (including Fred
Goodwin, Tom McKillop, Johnny Cameron, and Guy Whittaker) misled
shareholders by misrepresenting the underlying strength of the bank and
omitting critical information from the 2008 Rights Issue prospectus. It
claims that RBS is liable to its shareholders for losses which they
suffered on Rights Issue shares, by reason of breaches of Section 90 of
the Financial Services and Markets Act 2000.
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