Two British pension funds have lined up Cherie Booth QC and US class action specialist Coughlin Stoia Geller Rudman & Robbins to sue the Royal Bank of Scotland for hundreds of millions of pounds. The North Yorkshire and Merseyside council pension funds - which, between them, have a combined value of around £4bn - have instructed Booth (pictured) of Matrix Chambers to seek compensation for them through the US courts.The claim, which implicates the entire RBS board, states that both funds were reassured that the bank was in good health and their investments were safe, when in fact the bank was struggling as a result of of bad loans.
March 16, 2009 at 07:38 AM
1 minute read
The original version of this story was published on Legalweek
Two British pension funds have lined up Cherie Booth QC and US class action specialist Coughlin Stoia Geller Rudman & Robbins to sue the Royal Bank of Scotland for hundreds of millions of pounds.
The North Yorkshire and Merseyside council pension funds – which, between them, have a combined value of around £4bn – have instructed Booth (pictured) of Matrix Chambers to seek compensation for them through the US courts.
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