RBS facing £9bn legal claim

A shareholder action group led by Roger Lawson from the UK shareholder association is raising funds to initiate a lawsuit against RBS and former board members. The group claims the April 2008 rights issue prospectus mislead investors, according to The Mail. Around 100,000 shareholders subscribed at 200p per share, which have since lost 76% of their value. The action group believes it may be entitled to claim for the difference. Lawson says of the £12bn raised, shareholders have lost £9b and and said investors were living in "cloud cuckoo land" if they thought the price would fully ...