RIGHTS ISSUE
Investors suing Royal Bank of Scotland near settlement deal
RBS has doubled its offer to investors as CEO Ross McEwan staged an 11th-hour personal intervention at the weekend
London — Investors suing Royal Bank of Scotland Group over its 2008 rights issue were poised to settle the dispute on Tuesday, allowing former CEO Fred Goodwin to avoid a court appearance. "The majority of claimants have indicated a willingness to accept the latest offer," Jonathan Nash, a lawyer for the investors, told a London court on Tuesday. There is a "good prospect that within the course of the day the remainder of claimants will" reach an agreement with the bank, he said. RBS had doubled its offer to investors as CEO Ross McEwan staged an 11th-hour personal intervention at the weekend, a person with knowledge of the matter has said. The trial was to start on Monday before a judge postponed the start to Wednesday, while the claimants weigh the improved proposal. RBS had increased its offer to 82p per share, up from earlier settlements of 41.2p and 43.2p with other claimants in the class action suit, the person familiar with the matter said. Taking the case to trial could forc...
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