03:29, May 22 253 0 theguardian.com

2017-05-22 03:29:03
RBS in 11th-hour bid to avert court case brought by thousands of investors

Royal Bank of Scotland has made a last-ditch effort to avert a high-profile court case brought by thousands of investors who claim they were misled into buying the bank’s shares in the runup to its taxpayer bailout.

The 11th-hour intervention comes just hours before the case is due to start in London’s high court.

The offer to 9,000 private investors and handful of City institutions over the £12bn cash call in April 2008 – six months before the bank’s £45bn taxpayer bailout – is thought to be double that offered to other investors which had been making similar claims.

More details to follow …