Council Pension Funds Join War On The Banks

摘要

More large local government pension funds are considering joining North Yorkshire and Merseyside in suing Sir Fred Goodwin and the Royal Bank of Scotland. The MJ has learned at least four other major funds are evaluating moves to join the US-based class action lawsuit against the former RBS chief executive and the bank, which is now 68% owned by UK taxpayers. North Yorkshire and Merseyside are lead plaintiffs in a class action against RBS filed in New York on 13 March. Speaking on 17 March, a source close to the lawsuit said: 'We're aware of four other major funds within the local government pension scheme expressing interest. Class actions are new to local authorities - they are studying how this process works - so we don't expect immediate decisions.'