ABOUT US: - Following Leon Kaye Solicitors’ success with other class action cases, we set up the RBS Rights Issue Action Group in 2009. We were the first of what are now four proposed class actions which were set up more recently. Since 2009 many thousands of members have joined the group we represent. Any shareholder who lost money as a result of subscribing for shares in the RBS Rights Issue was eligible to join the RBS Rights Issue Action Group up until June 2014. Those who failed to instruct us or another Action Group have no legal automatic entitlement to compensation.
GROUNDS FOR PROPOSED CLAIM:- For those shareholders who are not aware of the grounds of our proposed claim this is a very short synopsis.
It is considered that the contents of the Rights Issue Prospectus from 2008 were misleading in that the Prospectus omitted to disclose material information and vital facts. This should have been known to the RBS and the relevant Directors at the time of issue of the Prospectus. If all relevant facts had been made known it is considered that investors might well have decided not to invest in the Rights Issue. Furthermore, it is quite likely that the Rights Issue would never have gone ahead at the time.
See our updated news for current information on the RBS Rights Issue Action group.
We are pleased to confirm that we have now issued proceedings in respect of this matter on behalf of approximately 4,000 RBS Rights Issue shareholders. The first set of proceedings were issued on 28 April 2014 followed by the second set of claims on 14 May 2014 and a further third set of claims in early June 2014.
You can also refer to the Question and Answer section and the information sheet on our proposed court-action against the Royal Bank of Scotland on this website for further information about the RBS Rights Issue Action Group.