RBS investors to sue bank chiefs

Oct 10 2009

Investors left out of pocket by the part-nationalisation of the Royal Bank of Scotland have announced plans to pursue legal action against its former directors for up to £9 billion.

An action group working on behalf of thousands of private shareholders confirmed plans to pursue compensation amid ongoing fury at being "misled" by Sir Fred Goodwin and his former colleagues.

Roger Lawson, of RBS Shareholders Group, said: "All the directors on the board at the time of the buyout will be targeted by this action."