Judge Gives RBS Until July 1 to Settle with Shareholders, Avoid Trial

A judge ruled that the Royal Bank of Scotland  (RBS) has until July 1 to come to a settlement with shareholders and avoid a trial over the bank's nearly $16 billion cash call during the financial crisis in 2008. 

RBS has already offered the thousands of shareholders that are a part of the lawsuit against the bank $1.3 billion to settle. The bank, which is 70% state-owned, has denied any wrongdoing.

Investors representing 87% of the 4 billion pound damages have already settled with RBS, but the remaining group of litigants contains thousands of current and former employees. 

Shares of RBS were higher by over 1% at the start of trading this morning.

Stocks have rebounded following a sharp sell off last week. Jim Cramer believes the rebound is real and gives investors advice on how to play the market going forward.

More from Stocks

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

Fornite Funko Pop Toys Will Be Huge: CEO

Fornite Funko Pop Toys Will Be Huge: CEO

How This Former VC Player Became CEO of $2 Billion Cannabis Company Tilray

How This Former VC Player Became CEO of $2 Billion Cannabis Company Tilray

Don't Panic! The Risk of a Recession This Year Is Low

Don't Panic! The Risk of a Recession This Year Is Low

Stocks End Close to Home

Stocks End Close to Home