LONDON: Royal Bank of Scotland said that it had settled legal claims with the majority of shareholders who had alleged they were misled when they took part in the bank's 2008 £12bil (US$15.23 billion) rights issue.
The state-backed bank said it has reached a full and final settlement with three of the five groups of investors who were pursuing lawsuits against it over the ill-fated cash call. RBS is now trying to reach an agreement with the other two groups in order to avoid the case coming to trial in March 2017.
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