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RBS Enters Last Ditch Round of Settlement Talks

RBS Enters Last Ditch Round of Settlement Talks

The trial of British bank RBS (RBS) was on Monday adjourned until Tuesday morning so that the lender and plaintiffs can enter one last ditch round of settlement talks.

RBS is defending itself in a lawsuit brought by shareholders who have alleged that the bank misled them about the true state of its financial position when the lender launched a £12 billion ($15 billion) rights issue in June 2008.

There were originally five separate groups of shareholders pursuing the bank, but RBS has now settled with four of them at a cost of around £800 million.

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This article was written by a staff member of TheStreet.