In June, 2007, The Royal Bank of Scotland raised $950,000 in preferred stock. Investors relied on the various offering documents The Royal Bank of Scotland issued in connection with this offering. The Royal Bank of Scotland 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 ADSs now trade at approximately $10 per share.
This securities class action alleges that The Royal Bank of Scotland mislead investors in the documents associated with the June, 2007 offering.
Name (Stock Symbol)
Royal Bank of Scotland (RBS)
The Royal Bank of Scotland is a full service BRitish bank, now majority owned by the British government.
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