The basis of the class action is that the claim warrants were allegedly sold to Navra clients without RBS taking any steps to determine whether or not the products were suitable for the clients’ investment purposes. Further, misrepresentations were allegedly made about the way the claim warrants would perform, and these misrepresentations also caused loss to investors.
On 22 December 2017 the parties agreed to settle the Proceedings and a Settlement Deed was executed on 16 February 2018. The settlement is subject to Court approval. The settlement approval hearing will take place on 20 March 2018 at the Federal Court of Australia in Sydney.
The Court has ordered that the following documents be published on this website:
- Second Further Amended Originating Application 121217
- Third Amended Statement of Claim 071217
- Defence to Third Amended Statement of Claim 191217
- Settlement Deed
Please contact Vicky Antzoulatos if you require any further information about this matter.