The basis of the class action was 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.
A settlement of these proceedings was approved by the Court in March 2018. All settlement monies have now been distributed and the class action has been finalised.
Please contact Vicky Antzoulatos if you require any further information about this matter.