A group of Royal Bank of Scotland Group investors Monday said they had accepted a £200m settlement from the bank to end a protracted legal fight over allegations the lender misled them in the lead-up to an emergency rights issue during the financial crisis, The Wall Street Journal reports.
The dispute relates to a £12bn cash call just before RBS was bailed out by taxpayers in 2008. Investors alleged they were not informed of RBS’ teetering finances before plowing more cash into the sinking bank. A trial was due to get under way imminently.