RBS faces $100 million lawsuit in US

Jessica Meek
26 Jul 2011

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Highland Capital is suing Royal Bank of Scotland (RBS) in the US for $100 million. The hedge fund has accused RBS and two of its former capital markets staff of fraudulent inducement, fraud and unjust enrichment.

The case has been brought in Texas and cites Sam Griffiths, a managing director and former head of high-yield trading, and Stewart Hall, a lawyer in the capital markets business, as defendants. Both men are still working for RBS.

The lawsuit involves a collateralised debt obligation

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