RBS gets favourable decision in U.S. lawsuit

RBS branch sign

A U.S. appeals court on Wednesday declined to hold Royal Bank of Scotland liable for allegedly defrauding investors in its American depositary shares by downplaying its subprime asset exposure prior to the global financial crisis.

Reuters reports that the 2nd U.S. Circuit Court of Appeals in New York rejected claims by ADS investors seeking to recoup losses on their shares.

It said these investors did not show that the bank, former CEO Fred Goodwin and other officials intended to mislead them in 2007 and early 2008 about RBS' exposure to leveraged loans, collateralized debt obligations and other risky assets, or its ability to manage that exposure.

To access the complete Reuters article hit the link below:

RBS prevails in US fraud lawsuit over pre-crisis disclosures

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