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Class action - Preference share series s 2007
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Class Action Lawsuit On Behalf Of Royal Bank Of Scotland Group Plc (NYSE:RBS) Investors Against RBS
http://pr-usa.net/index2.php?option=com_content&do_pdf=1&id=158992
According to the complaint the plaintiff alleges that Royal Bank of Scotland Group plc (NYSE:RBS; “RBS”) and certain of
its officers and directors violated the Securities Act of 1933 by issuing RBS’s Offering pursuant to the false and
misleading Registration Statement, selling 38 million Non-cumulative Dollar Preference Shares, Series S (“Series S
ADSs”) at $25 per share, for proceeds of approximately $950 million. The Registration Statement incorporated RBS’s
financial results for 2004, 2005 and 2006. According to the lawsuit RBS ultimately announced huge multi-billion pound
impairment charges associated with its exposure to debt securities, including mortgage-related securities tied to the U.S.
real estate markets, causing the price of RBS’s Series S ADSs issued in the Offering to decline. The RBS ADSs now
trade at approximately $10 per share.
La notizia non e' nuova , la conoscevate?
Class Action Lawsuit On Behalf Of Royal Bank Of Scotland Group Plc (NYSE:RBS) Investors Against RBS
http://pr-usa.net/index2.php?option=com_content&do_pdf=1&id=158992
According to the complaint the plaintiff alleges that Royal Bank of Scotland Group plc (NYSE:RBS; “RBS”) and certain of
its officers and directors violated the Securities Act of 1933 by issuing RBS’s Offering pursuant to the false and
misleading Registration Statement, selling 38 million Non-cumulative Dollar Preference Shares, Series S (“Series S
ADSs”) at $25 per share, for proceeds of approximately $950 million. The Registration Statement incorporated RBS’s
financial results for 2004, 2005 and 2006. According to the lawsuit RBS ultimately announced huge multi-billion pound
impairment charges associated with its exposure to debt securities, including mortgage-related securities tied to the U.S.
real estate markets, causing the price of RBS’s Series S ADSs issued in the Offering to decline. The RBS ADSs now
trade at approximately $10 per share.
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