Funds Step Up Fight Against RBS Litigation Costs

Law360, London (January 29, 2020, 7:06 PM GMT) -- A group of institutional investors including units of workplace pension provider Scottish Widows is bolstering their fight against claims they should contribute to costs paid to secure a £200 million ($260 million) settlement for Royal Bank of Scotland PLC shareholders.

The investors were sued in High Court by Manx Capital Partners, a firm that now represents thousands of RBS shareholders who struck a settlement with the bank in 2017 over allegations it misled investors in its £12 billion rights issue.

In an amended defense filed Tuesday, the defendants held firm that they’re not liable to pay a share of the costs...

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