Royal Bank of Scotland Reaches Settlement in Class Action

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On February 14, the Royal Bank of Scotland and a plaintiff class, led by New Jersey Carpenters Health Fund and the Boilermaker Blacksmith Pension trust, reported to the court that the parties had reached a settlement in principle in an RMBS case in the United States District Court for the Southern District of New York. Plaintiffs brought claims under the federal securities laws in connection with fourteen RMBS securitizations.  According to a statement made by plaintiffs’ lead counsel, the settlement amount is $275 million. Joint Letter. Statement.

Topics:  Class Action, Mortgages, RMBS, Royal Bank of Scotland, Settlement

Published In: Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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