RBS shareholders could sue Sir Fred

Oct 10 2009

Sir Fred Goodwin could be sued for billions of pounds by aggrieved Royal Bank of Scotland investors, it was announced.

He is one of several former directors being targeted in a £9 billion lawsuit being planned by an action group working on behalf of thousands of private shareholders left out of pocket by the bank's near collapse.

Investors - some of whom claimed to have lost more than £20,000 - believe they were "misled" about the health of the bank, now 70% owned by the taxpayer, when they were asked to invest money in April last year.