1st May 2014
The RBoS Shareholders Action Group has extended the deadline for shareholders to join the action against RBS over the 2008 Rights Issue.
The new deadline for institutions is 12 May and for private investors 9 May 2014. 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 against RBS. The group believes this, along with the sheer number of institutions joining the action, is persuading more and more investors to join the action.
More than one thousand new private shareholders have joined the action over the past month, bringing the total number to above 13,000.
Fred Campbell, speaking on behalf of the group, said: “Since we announced a closing date of April 30th, we have been inundated with applications to join the action. We have taken on extra volunteers to ensure that all those wishing to bring claims against the bank will have the opportunity to do so.”