LONDON, June 7 (Reuters) - A lawyer for shareholders in RBS , who are suing the bank over losses related to its 2008 rights issue, has asked a London High Court judge to call off a trial because a majority of investors had agreed to an out-of-court settlement.
Jonathan Nash said on Wednesday that 87 percent of the shareholder group had settled or intended to agree to an out-of-court deal offered by the Royal Bank of Scotland.
Shareholders had alleged the bank and its top executives misled them during a 12 billion pound ($15.5 billion) cash call launched just before RBS’s near collapse and record bank bailout in 2008. They lost around 80 percent of their investments.
The court is awaiting a decision by the judge. (Reporting by Lawrence White, editing by Kirstin Ridley)