Standard Life Investments (SLI) and Legal & General Investment Management (LGIM) are reportedly looking to sue Royal Bank of Scotland (RBS) over a controversial £12bn cash-call in 2008.
The two institutional investors have hired international corporate litigation firm Quinn Emanuel to weigh up whether they were misled by the bank in its drive to raise cash from shareholders, according to a report in The Scotsman. The development will put extra weight on other active cases against the bank by institutional and small shareholders who are suing RBS over the issue. The bank carried out a capital-raising under chief executive Fred Goodwin to bolster RBS's balance sheet after its controversial consortium-led £45bn takeover of Dutch bank ABN Amro in 2007. But campaigners...
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