Third legal action launched against RBS
The RBS Rights Issue Action Group, represented by Leon Kaye Solicitors, said the proceedings were on behalf of 3,500 private investors.
Leon Kaye said: “Although the RBS Rights Issue Action Group has from the outset primarily represented the interests of small and medium sized investors, proceedings have been issued on behalf of investors ranging from holdings of 100 shares up to 100,000 shares.”
RBS, whose then-chief executive Fred Goodwin and other former directors led the cash call prior to the bank’s collapse, vigorously contests the claim.
Two legal actions had previously been launched on the issue, one by the RBoS Shareholders Action Group, and another representing institutional investors.