Source: http://www.readbag.com/securities-stanford-1042-rbs-01-2009126-o01c-gordon
Timestamp: 2019-11-22 08:13:38
Document Index: 742436359

Matched Legal Cases: ['§11', '§77', '§11', '§77', '§1331', '§22', '§139', '§ 11', '§77', '§ 11', '§ 12', '§15', '§11']

Read Natalie Gordon, et al. v. The Royal Bank of Scotland Group plc, et al. Gordon-Class Action Complaint For Violations Of Federal Securities Laws
Read Natalie Gordon, et al. v. The Royal Bank of Scotland Group plc, et al. Gordon-Class Action Complaint For Violations Of Federal Securities Laws text version
JS 44C/SDNY
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The JS-44 civil cover sheet and the information contained herein neither replace nor supplement the filing and service of
pleadings or other papers as required bylaw, except as provided by local rules of court . This form, approved by the Judicial Conference of the United States in September 1974, is required for use of the Clerk of Court for the purpose of initiating the civil docket sheet.
PLAINTIFFS Natalie Gordon ATTORNEYS (FIRM NAME , ADDRESS , AND TELEPHONE NUMBER )
FARUQI &amp; FARUQI,LLP, 369 Lexington Ave., 10th Floor, New York, NY 10017, (212) 983-9330
DEFENDANTS The Royal Bank of Scotland Group Plc, et al. (Please see attached Schedule A). ATTORNEYS ( IF KNOWN)
CAUSE OF ACTION (CITE THE U.S. CIVIL STATUTE UNDER WHICH YOU ARE FILING AND WRITE A BRIEF STATEMENT OF CAUSE) (DO NOT CITE JURISDICTIONAL STATUTES UNLESS DIVERSITY)
Claims asserted herein arise under §11 , 12(a)(2 ) and 15 of the 1933 Act [ 15 U.S.C. §§77k, 771 (a)(2) and 77o].
Has this or a similar case been previously filed In SDNY at any time? No? [? Yes? [] If yes, was this case Vol.0 Invol. u Dismissed . No u Yes u (PLACE AN (x] IN ONE BOX ONLY)
Judge Previously
If yes , give date
CONTRACT 1 1110 11120 1 1130 [ ] 140 [ 1150 INSURANCE MARINE MILLER ACT NEGOTIABLE INSTRUMENT RECOVERY OF OVERPAYMENT &amp; ENFORCEMENT OF JUDGMENT MEDICARE ACT RECOVERY OF DEFAULTED STUDENT LOANS (EXCL VETERANS) RECOVERY OF OVERPAYMENT OF VETERAN'S BENEFITS STOCKHOLDERS SUITS OTHER CONTRACT CONTRACT PRODUCT LIABILITY FRANCHISE
PERSONAL INJURY [1310 AIRPLANE 11315 AIRPLANE PRODUCT LIABILITY [ 1320 ASSAULT, LIBEL &amp; SLANDER 11330 FEDERAL EMPLOYERS' LIABILITY 1340 MARINE [ [ 1345 MARINE PRODUCT LIABILITY [1350 MOTOR VEHICLE [1355 MOTOR VEHICLE PRODUCT LIABILITY [1360 OTHER PERSONAL INJURY
PERSONAL INJURY [1362
FORFEITUREIPENALTY AGRICULTURE OTHER FOOD &amp; DRUG DRUG RELATED SEIZURE OF PROPERTY 21 USC 881 LIQUOR LAWS RR &amp; TRUCK AIRLINE REGS OCCUPATIONAL SAFETY/HEALTH OTHER
BANKRUPTCY [1422 APPEAL 28 USC 158 11423 WITHDRAWAL 28 USC 157
[ 1151 [ 1 152
[ 1153
[1160 [1190 11195
[1196
REAL PROPERTY 1 1210 []220 [ 1230 11240 [ ] 245 [1290 LAND CONDEMNATION FORECLOSURE RENT LEASE &amp; EJECTMENT TORTS TO LAND TORT PRODUCT LIABILITY ALL OTHER REAL PROPERTY
[1400 STATE REAPPORTIONMENT 11410 ANTITRUST [ 1430 BANKS &amp; BANKING [ 1450 COMMERCE [1460 DEPORTATION [ 1470 RACKETEER INFLUPROPERTY RIGHTS ENCED &amp; CORRUPT ORGANIZATION ACT COPYRIGHTS 11820 RICO) O 11830 PATENT 11650 MER CREDIT 1 ]840 TRADEMARK [ 1370 OTHER FRAUD 11660 1490 SATELLITE TV [ 1371 TRUTH IN LENDING SELE IVE SERVICE [1690 [1380 OTHER PERSONAL [850 SECU IES/ PROPERTY DAMAGE SOCIAL SECURITY COM DITIES/ [ 1385 PROPERTY DAMAGE EXC GE PRODUCT LIABILITY LABOR [ 1861 HIA (1395ff) OMER [ 1875 C [1862 BLACK LUNG (923) ALLENGE [ 1710 FAIR LABOR [1863 DIWC/DIWW (405(g)) 12 USC 3410 STANDARDS ACT (1864 SSID TITLE XVI 11890 OTHER STATUTORY [ 1720 LABORIMGMT [ 1865 RSI (405(g)) ACTIONS RELATIONS [ 1730 LABORIMGMT 11891 AGRICULTURAL ACTS REPORTING &amp; [ 1892 ECONOMIC FEDERAL TAX SUITS STABILIZATION ACT ACTIONS UNDER STATUTES DISCLOSURE ACT 11740 RAILWAY LABOR ACT 11870 TAXES (U.S. Plaintiff or [ 1893 ENVIRONMENTAL MATTERS PRISONER PETITIONS [1790 OTHER LABOR CML RIGHTS Defendant) LITIGATION [1894 ENERGY [ 1871 IRS-THIRD PARTY ALLOCATION ACT 11441 VOTING [1510 MOTIONS TO 11791 EMPL RET INC 26 USC 7609 VACATE SENTENCE SECURITY ACT [ 1895 FREEDOM OF 1 1442 EMPLOYMENT INFORMATION ACT 1 1443 HOUSING/ 28 USC 2255 530 HABEAS CORPUS IMMIG RATION ACCOMMODATIONS I 1900 APPEAL OF FEE DETERMINATION 535 DEATH PENALTY 1 1444 WELFARE UNDER EQUAL 540 MANDAMUS &amp; OTHER 11462 NATURALIZATION 11445 AMERICANS WITH CIVIL RIGHTS APPLICATION ACCESS TO JUSTICE DISABILITIES 550 [1463 HABEAS CORPUS[ 1950 CONSTITUTIONALITY EMPLOYMENT 555 PRISON CONDITION OF STATE STATUTES [ ]446 AMERICANS WITH ALIEN DETAINEE DISABILITIES -OTHER 11465 OTHER IMMIGRATION ACTIONS [ 1440 OTHER CIVIL RIGHTS PERSONAL INJURY - [ 1610 MED MALPRACTICE [ 1620 [1365 PERSONAL INJURY PRODUCT LIABILITY 11625 [1368 ASBESTOS PERSONAL INJURY PRODUCT LIABILITY [ 1630 11640 PERSONAL PROPERTY
Check if demanded in complaint: Ei CHECK IF THIS IS A CLASS ACTION UNDER F.R.C.P. 23 DEMAND $ OTHER DO YOU CLAIM THIS CASE IS RELATED TO A CIVIL CASE NOW P NDING IN S.D.N.Y.? IF SO, STATE: JUDGE DOCKET NU BER
Check YES only if demanded in complaint JURY DEMAND : u YES u NO
NOTE: Please submit at the time of filing an explanation of why cases are deemed related.
THE ROYAL BANK OF SCOTLAND GROUP PLC, THE ROYAL BANK OF SCOTLAND PLC, SIR THOMAS McKILLOP, SIR FREDERICK A. GOODWIN, LAWRENCE K. FISH, GORDON F. PELL, GUY R. WHITTAKER, COLIN A.M. BUCHAN, JAMES CURRIE, SIR STEPHEN A. ROBSON, ROBERT A. SCOTT, PETER D. SUTHERLAND, ARCHIBALD HUNTER, CHARLES J. KOCH, JOSEPH P. MacHALE, MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED, GREENWICH CAPITAL MARKETS, INC., WACHOVIA CAPITAL MARKETS, LLC, MORGAN STANLEY &amp; CO. INCORPORATED, UBS SECURITIES LLC, BANC OF AMERICA SECURITIES LLC and RBC CAPITAL MARKETS CORPORATION.
THE ROYAL BANK OF SCOTLAND GROUP PLC Business House F, Level 2 RBS, Gogarbum, PO Box 1000 Edinburg EH 12 1 HQ, Depot Code: 045 Scotland THE ROYAL BANK OF SCOTLAND PLC PO Box 31
36 Street Andrew Square Edinburg EH2 2YB Scotland
SIR THOMAS McKILLOP
c/o THE ROYAL BANK OF SCOTLAND GROUP PLC Business House F, Level 2
RBS, Gogarburn , PO Box 1000 Edinburg EH 12 1 HQ, Depot Code: 045 Scotland SIR FREDERICK A. GOODWIN c/o THE ROYAL BANK OF SCOTLAND GROUP PLC Business House F , Level 2 RBS, Gogarburn, PO Box 1000 Edinburg EH12 1HQ, Depot Code: 045 Scotland LAWRENCE K. FISH c/o THE ROYAL BANK OF SCOTLAND GROUP PLC Business House F, Level 2 RBS, Gogarburn, PO Box 1000 Edinburg EH 12 1 HQ, Depot Code: 045 Scotland GORDON F. PELL c/o THE ROYAL BANK OF SCOTLAND GROUP PLC Business House F , Level 2
RBS, Gogarbum , PO Box 1000 Edinburg EH12 1HQ , Depot Code: 045 Scotland
c/o THE ROYAL BANK OF SCOTLAND GROUP PLC Business House F , Level 2
RBS, Gogarburn, PO Box 1000 Edinburg EH 12 1 HQ, Depot Code: 045 Scotland CHARLES J. KOCH
c/o THE ROYAL BANK OF SCOTLAND GROUP PLC Business House F, Level 2 RBS, Gogarburn , PO Box 1000 Edinburg EH 12 1 HQ, Depot Code: 045 Scotland
JOSEPH P. MacHALE
RBS, Gogarburn, PO Box 1000 Edinburg EH 12 l HQ, Depot Code: 045 Scotland
MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED 4 World Financial Center, N Tower 250 Vesey Street New York, NY 10080
GREENWICH CAPITAL MARKETS, INC. 600 Steamboat Road Greenwich , CT 06830 WACHOVIA CAPITAL MARKETS, LLC 301 S. College Street Charlotte, NC 28288 MORGAN STANLEY &amp; CO. INCORPORATED 1585 Broadway New York, NY 10036
UBS SECURITIES LLC 1285 Avenue of the Americas New York, NY 10019 BANC OF AMERICA SECURITIES LLC 100 N Tryon Street, 25th Floor
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK x NATALIE GORDON, on Behalf of Herself and All : Others Similarly Situated, Plaintiff, vs. THE ROYAL BANK OF SCOTLAND GROUP PLC, THE ROYAL BANK OF SCOTLAND PLC, : SIR THOMAS McKILLOP, SIR FREDERICK A. GOODWIN, LAWRENCE K. FISH, GORDON F. PELL, GUY R. WHITTAKER, COLIN A.M. BUCHAN, JAMES CURRIE, SIR STEPHEN A. ROBSON, ROBERT A. SCOTT, PETER D. SUTHERLAND, ARCHIBALD HUNTER, CHARLES J. KOCH, JOSEPH P. MacHALE, MERRILL LYNCH, PIERCE, FENNER &amp; SMITH : INCORPORATED, GREENWICH CAPITAL MARKETS, INC., WACHOVIA CAPITAL MARKETS, LLC, MORGAN STANLEY &amp; CO. INCORPORATED, UBS SECURITIES LLC, BANC OF AMERICA SECURITIES LLC and RBC CAPITAL MARKETS CORPORATION, Defendants. JURY TRIAL DEMANDED CLASS ACTION COMPLAINT FOR VIOLATION OF THE FEDERAL SECURITIES LAWS
Plaintiff Natalie Gordon, on behalf of all others similarly situated, by her attorneys, hereby alleges, upon knowledge with respect to facts concerning Plaintiff and Plaintiffs acts and as to all other matters, which generally concern facts not in Plaintiffs possession, upon information and belief as follows: NATURE OF THE ACTION 1. This is a securities class action on behalf of purchasers of the American
Depositary Shares of The Royal Bank of Scotland Group plc (&quot;RBS&quot; or the &quot;Company&quot;)
pursuant and/or traceable to a false and misleading registration statement and prospectus
(collectively, the &quot;Registration Statement&quot;) issued in connection with the Company's June 2007 initial public offering of the Company's 38 million Non-Cumulative Dollar Preference Shares,
Series S (the &quot;Offering&quot;). This action asserts strict liability claims under the Securities Act of 1933 (the &quot;1933 Act&quot;) against RBS, its directors and the investment banks which underwrote the
June 2007 Offering (collectively, &quot;Defendants&quot;).
Defendants consummated RBS' Offering pursuant to the false and misleading
Registration Statement and Prospectus, selling 38 million Non-Cumulative Dollar Preference
Shares, Series S (&quot;ADSs&quot;) at $25 per share, for proceeds of approximately $950 million. The Registration Statement/Prospectus incorporated RBS' financial results for 2004, 2005 and 2006. 3. RBS ultimately announced huge multi-billion pound impairment charges
associated with its exposure to debt securities, including mortgage-related securities tied to the U.S. real estate markets, causing the price of RBS's ADSs issued in the Offering to substantially
decline. Analysts have added that RBS' large exposure to commercial property loans means there is substantial scope for credit quality to deteriorate further. On January 19, 2009, RBS' ADSs were down nearly 20%, losing over two thirds of their value in a single trading session, after the bank said it could report an annual loss of up to 28 billion pounds ($41.6 billion). 4. The Registration Statement, however, omitted numerous facts , including, among
others : (a) that Defendants' portfolio of debt securities were impaired to a much larger extent than the Company had disclosed; (b) Defendants failed to properly record losses for impaired
assets ; (c) The Company' s internal controls were inadequate to prevent the Company from improperly reporting its debt securities ; (d) The Company' s participation in the acquisition of
ABN AMRO would have disastrous results on the Company' s capital position and overall
operations ; and (e) The Company's capital base was not adequate enough to withstand the significant deterioration in the subprime market and, as a result, RBS would be forced to raise significant amounts of additional capital. JURISDICTION AND VENUE 5. The claims asserted herein arise under and pursuant to §11, 12(a)(2) and 15 of the
1933 Act [ 15 U.S.C. §§77k, 771(a)(2) and 77o]. 6. This Court has jurisdiction over the subject matter of this action pursuant to 28
U.S.C. §1331 and §22 of the 1933 Act. 7. Venue is proper in this District pursuant to 28 U.S.C. §139(b), because the
underwriter defendants conduct business in this District and many of the acts and practices complained of herein occurred in substantial part in this District. 8. In connection with the acts alleged in this complaint, Defendants, directly or
indirectly, used the means and instrumentalities of interstate commerce, including, but not limited to, the mails, interstate telephone communications and the facilities of the national securities markets, including the New York Stock Exchange (the &quot;NYSE&quot;). PARTIES 9. Plaintiff Natalie Gordon acquired RBS' ADSs pursuant or traceable to the
Offering and has been damaged thereby.
10. Defendant RBS, based in Edinburgh, Scotland, United Kingdom, is one of the
largest financial services groups in the world. RBS serves as a holding company of the Royal Bank of Scotland Plc (&quot;Royal Bank&quot;) and National Westminster Bank Plc (&quot;NatWest&quot;), which are United Kingdom-based clearing banks. RBS operates across a global network with branch offices in the United States, including the State of New York. RBS is one of the top 10 banking groups in the US and a principal supplier of corporate finance and debt capital markets services. 3
It also has the 8th largest retail branch network in the US and is the 2nd largest supermarket bank. The Company has executive offices located in New York, New York. 11. Defendant Royal Bank is one of the retail banking subsidiaries of RBS, which,
together with NatWest and Ulster Bank, provides branch banking facilities in the United Kingdom. 12. Defendant Sir Thomas McKillop (&quot;McKillop&quot;) has been Chairman of the Board
of RBS since September 2005. On October 13, 2008, McKillop announced he will retire in April 2009. McKillop was further identified as a director in RBS's Form 20-F (&quot;20-F&quot;) filed with the U.S. Securities and Exchange Commission (the &quot;SEC&quot;) for the year ending December 31, 2006, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 13. Defendant Sir Frederick A. Goodwin (&quot;Goodwin&quot;) was Group Chief Executive Defendant Goodwin signed the
Officer (&quot;CEO&quot;) and a director of RBS until October 2008 .
Registration Statement. Goodwin was further identified as a director in RBS's 20-F filed with the SEC for the year ending December 31, 2006, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 14. Defendant Lawrence K. Fish (&quot;Fish&quot;) was, at all relevant times, a director of RBS.
Fish was previously Chairman and CEO of Citizens Financial Group, Inc. (&quot;Citizens&quot;). Since January 1, 2008, he served as the non-executive Chairman of Citizens. Fish signed the
Registration Statement . Fish was further identified as a director in RBS's 20-F filed with the SEC for the year ending December 31, 2005, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering . named Chairman of RBS America. On March 23 , 2007, Fish was
Defendant Gordon F. Pell (&quot;Pell&quot;) is, and at all relevant times was, a director of
RBS. Defendant Pell signed the Registration Statement. Pell was further identified as a director in RBS's 20-F filed with the SEC for the year ending December 31, 2005, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 16. Defendant Guy Whittaker (&quot;Whittaker&quot;) is, and at all relevant times was, Group
Financial Director and a director of RBS. Whittaker was identified as a director in RBS's 20-F filed with the SEC for the year ending December 31, 2005, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 17. Defendant Colin A. M. Buchan (&quot;Buchan&quot; ) is, and at all relevant times was, a
director of RBS. Buchan signed the Registration Statement. Buchan was further identified as a director in RBS's 20-F filed with the SEC for the year ending December 31, 2006, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 18. Defendant James Currie (&quot;Curie&quot;) is, and at all relevant times was, a director of
RBS. Defendant Currie signed the Registration Statement. Currie was further identified as a director in RBS's 20-F filed with the SEC for the year ending December 31, 2006, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 19. Defendant Sir Stephen A. Robson (&quot;Robson&quot;) is, and at all relevant times was, a Defendant Robson signed the Registration Statement. Robson was further
director of RBS.
identified as a director in RBS's 20-F filed with the SEC for the year ending December 31, 2006, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 20. RBS. Defendant Robert A. Scott (&quot;Scott&quot;) is, and at all relevant times was, a director or
Defendant Scott signed the Registration Statement. Scott was further identified as a
director in RBS's 20-F filed with the SEC for the year ending December 31, 2005, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 21. Defendant Peter D. Sutherland (&quot;Sutherland&quot;) is, and at all relevant times was, Defendant Sutherland signed the Registration Statement. Sutherland was
further identified as a director in RBS's 20-F filed with the SEC for the year ending December 31, 2006, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 22. Defendant Archibald Hunter (&quot;Hunter&quot;) is, and at all relevant times was, a Defendant Hunter signed the Registration Statement. Hunter was further
identified as a director in RBS's 20-F filed with the SEC for the year ending December 31, 2006, which was incorporated by reference into the Prospectus Supplement filed in connection with the
23. RBS. Defendant Charles J. Koch (&quot;Koch&quot;) is, and at all relevant times was, a director of Koch was further identified as a
Defendant Koch signed the Registration Statement.
director in RBS's 20-F filed with the SEC for the year ending December 31, 2006, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 24. Defendant Joseph P. MacHale (&quot;MacHale&quot;) is, and at all relevant times was, a
director of RBS. Defendant MacHale signed the Registration Statement. MacHale was further identified as a director in RBS's 20-F filed with the SEC for the year ending December 31, 2005, which was incorporated by reference into the Prospectus Supplement filed in connection with the Offering. 25. Defendants referenced above in ¶¶12-24 are referred to herein as the &quot;Individual
Defendants.&quot; By reason of their management positions and their ability to make statements in
the name of RBS, the Individual Defendants were and are controlling persons, and had the power to influence to case, and did cause, RBS to engage in the conduct complained of. 26. Defendant Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated (&quot; Merrill Lynch&quot;) Merrill Lynch was an underwriter and a joint book running
is a registered broker-dealer. manager of the Offering. 27.
Defendant Greenwich Capital Markets, Inc. (&quot;Greenwich&quot;), a U.S. registered
broker-dealer, is a leading underwriter, trader, and distributor of fixed-income investment products. Greenwich is a wholly-owned subsidiary of RBS. Greenwich was an underwriter and a joint book running manager of the Offering. 28. Defendant Wachovia Capital Markets, LLC (&quot;Wachovia Capital&quot;) is the corporate
and investment banking side of brokerage firm Wachovia Securities (both companies are subsidiaries of banking giant Wachovia). Wachovia Capital provides debt and equity
underwriting, trading, research and sales, loan syndications, agent services, and corporate finance and Mergers and Acquisitions advisory services. Wachovia Capital was an underwriter and a joint book running manager of the Offering. 29. Defendant Morgan Stanley &amp; Co. Incorporated (&quot;Morgan Stanley&quot;) is a leading
global financial services firm providing a wide range of investment baking, securities investment management and wealth management services. Morgan Stanley was an underwriter and a joint book running manager of the Offering. 30. Defendant UBS Securities LLC (&quot;UBS&quot;), a Delaware limited liability company, is
an integrated investment bank whose clients include financial institutions, corporations, governments and individuals. UBS provides its clients with a broad range of financial products and services. UBS was an underwriter and a joint book running manager for the Offering.
Defendant Banc of America Securities LLC (&quot;Banc of America&quot;) is the
investment banking arm of Bank of America. Banc of America offers trading and brokerage services, securities underwriting, debt and equity research, advice on public offerings, leveraged buyouts, and mergers and acquisitions. Banc of America was an underwriter and a joint book running manager of the Offering. 32. Defendant RBC Capital Markets Corporation (&quot;RBC&quot;) is a leading global
investment bank, with over $632 billion in assets . RBC is part of financial services provider,
Royal Bank of Canada. Offering. 33. Pursuant to the 1933 Act, Defendants referenced in ¶¶26-32 above are referred to RBC was an underwriter and a joint book running manager of the
herein as the &quot;Underwriter Defendants&quot; 34. The Underwriter Defendants are liable for the false and misleading statements in
the Registration Statement. In connection with the Offering, the Underwriter Defendants drafted and disseminated the Registration Statement and were paid fees in connection therewith. The
Underwriter Defendants' failure to conduct an adequate due diligence investigation was a substantial factor leading to the harm complained of herein.
CLASS ACTION ALLEGATIONS 35. Plaintiff brings this action as a class action pursuant to Federal Rule of Civil
Procedure 23(a) and (b)(3) on behalf of herself and all persons or entities who acquired RBS' ADSs pursuant or traceable to the Company' s false and misleading Registration Statement for the Offering and who were damaged thereby (the &quot;Class&quot;). Excluded from the Class are Defendants herein, members of their immediate families of Defendants, any person, firm, trust, corporation, officer, director, or other individual or entity in which any of Defendants, and the legal
representative, agents, affiliates, heirs, successors-in-interest or assigns of any such excluded party.
The members of the Class are so numerous that joinder of all members is
impracticable. RBS' ADSs were actively traded on the NYSE. While the exact number of Class members is unknown to Plaintiff at this time and can only be ascertained through appropriate discovery, Plaintiff believes that there are hundreds of members in the proposed Class. Record
owners and other members of the Class may be identified from records maintained by RBS or its transfer agent and may be notified of the pendency of this action by mail, using the form of
notice similar to that customarily used in securities class actions. 37. Plaintiffs claims are typical of the claims of the members of the Class as all
members of the Class are similarly affected by Defendants' wrongful conduct in violation of federal law that is complained of herein. 38. Plaintiff will fairly and adequately protect the interests of the members of the
Class and has retained counsel competent and experienced in class and securities litigation. 39. A class action is superior to all other available methods for the fair and efficient
adjudication of this controversy. Because the damages suffered by individual Class members
may be relatively small, the expense and burden of individual litigation make it virtually
impossible for members of the Class to seek redress for the wrongful conduct alleged. Furthermore, there will be no difficulty that will be encountered in the management of this litigation that would preclude its maintenance as a class action. 40. Common questions of law and fact exist as to all members of the Class and
predominate over any questions solely affecting individual members of the Class. Among the questions of law and fact common to the Class are:
alleged herein;
whether the federal securities laws were violated by Defendants' acts as
whether the Registration Statement made and issued by Defendants to the
investing public misrepresented material facts about the business, operations and management of RBS; and (c) the extent of injuries sustained by members of the Class and the
appropriate measure of damages. BACKGROUND
RBS describes itself as &quot;one of the largest financial services groups in the world&quot;
operating in more than 50 countries. The Company's activities are organized into four business divisions: Global Markets (comprising Global Banking and Markets), Regional Markets
(comprising Retail and Wealth Management), RBS Insurance and Group Manufacturing. 42. On or about April 8, 2005, RBS filed with the SEC a Registration Statement on
Form F-3, including the Prospectus using a &quot;shelf&quot; registration or continuous offering process. Under the shelf, RBS would be permitted to sell securities described in the Prospectus in one or more offerings up to a total of $10 billion. The Form F-3 incorporated RBS's Form 20-F for the fiscal year ended December 31, 2004: The SEC allows us to &quot;incorporate by reference&quot; the information that we file with the SEC. This permits us to disclose important information to you by referring to these filed documents. Any information referred to in this way is considered part of the prospectus, and any information that we file with the SEC after the date of this prospectus will automatically be deemed to update and supersede this information. We incorporate by reference our Annual Report on Form 20-F for the fiscal year ended December 31, 2004 filed with the SEC on March 29, 2005. We also incorporate by reference any future filings made with the SEC under Sections 13(s), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934 and certain Reports on Form 6-K, if they state that they are incorporated by reference into this
prospectus, that we furnish to the SEC after the date of this prospectus and until we or any underwriters sell all of the securities. 43. The Form F-3 also incorporated by reference subsequently filed prospectuses:
For purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. 44. The Form F-3 also included assurances that the Registrant would:
Reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. 45. On April 26, 2006 , RBS filed its annual report on Form 20-F with the SEC for
they year ended December 31, 2005. The Form 20-F represented that RBS had total assets of £776.8 billion and profit after tax of £5.3 billion the prior year. The Company also noted that it was strongly capitalized with a total capital ratio of 11.7% and tier 1 capital ration of 7.6% as of December 31, 2005. 46. On April 24, 2007, RBS filed its annual report on Form 20-F with the SEC for
they year ended December 31, 2006, which showed profit after tax of £6.5 billion compared to £6.5 billion the prior year. The Company again noted that it was strongly capitalized with a total capital ratio of 11.7% and tier 1 capital ration of 7.5% as of December 31, 2006. The Annual
Report included a &quot;Group Chief Executive's review&quot; letter by Goodwin which concluded:
Outlook Our proven business model delivered strong results in 2006. We are expanding our reach and making progress in all the major economies we operate in. We believe that the strategic choices we have made, together with the prospects for continued growth in the world economy, position us well for 2007. We remain confident in the Group's ability to take advantage of the many opportunities to invest profitably in sustainable growth.
RBS's Form 20-F also stated the following:
2006 compared with 2005 Profit Profit before tax was up 16^, from £7,936 million to £9,186 million, reflecting strong organic income growth in all divisions. Total income The Group achieved strong growth in income during 2006. Total income was up 8% or £2,100 million to £28,002 million.
Impairment losses Impairment losses were £1,878 million compared with £1,707 million in 2005, an increase of 10%. Risk elements in lending and potential problem loans represented 1.57% of gross loans and advances to customers excluding reverse repos at 31 December 2006 (2005 - 1.60%). Provision coverage of risk elements in lending and potential problem loans was 62% compared with 65% at 31 December 2005. This reflects amounts written-off and the changing mix from unsecured to secured exposures.
2006 compared with 2005 Impairment losses were £1,878 million compared with £1,707 million in 2005. New impairment losses were up 11 %, £214 million to £2,093 million. Recoveries of amounts previously written-off were up £43 million, 25% to £215 million. Consequently the net charge to the income statement was up £171 million, 10% to £1,878 million. Improvements in Corporate Markets reflecting a benign credit environment partly offset higher impairment losses in Retail Markets and Citizens.
Total balance sheet provisions for impairment amounted to £3,935 million compared with £3,887 million in 2005. Total provision coverage (the ratio of total balance sheet provisions for impairment to total risk elements in lending) decreased from 65% to 62%. The ratio of total balance sheet provisions for impairment to total risk elements in lending and potential problem loans also decreased to 62% compared with 65% in 2005. This reflects amounts written-off and the changing mix from unsecured to secured exposure.
Global Banking &amp; Markets
2006 compared with 2005 Global Banking &amp; Markets performed strongly in 2006, delivering excellent growth in income while continuing to build our strong international franchise. Total income rose by 22% to £6,826 million, contribution by 24% to £3,933 million and operating profit by 25% to £3,790 million. GBM is a leading provider of debt financing and risk management solutions covering the origination, structuring and distribution of a wide range of assets. In 2006 we arranged over $450 billion in financing for our corporate and institutional customers, up 17% from 2005. We ranked first among managers of global asset-backed and mortgage-backed securitizations and fourth among managers of global syndicated loans, while among managers of international bonds we moved from thirteenth place to eighth. These league table positions demonstrate our success in broadening and deepening our franchise. In 2005 we have further invested in extending our product capabilities and our worldwide reach. Income in North America rose by 18% in local currency, despite flat revenues I our US residential mortgage-backed securities business, as the investments we have made in our debt capital markets, loan markets, rate and credit trading businesses have borne fruit. In Europe, income increased by 26% in local currency as a result of good performances in Germany, France, Spain, Italy and the Nordic region. We participated in many of the largest cross-border financings in 2006. Asia-Pacific, too, showed marked progress with income increasing by 35% in US dollar terms. We have established a promising presence in the region, building our product capability and client relationships. Net interest income rose by 7% to £1,110 million representing 16% of total GBM income. Average loans and advances to customers increased by 20% as we further expanded our customer base outside the UK.
Net fee income rose by 27% to £861 million, reflecting our top tier position in arranging, structuring and distributing large scale private and public financings . We have increased our customer penetration and in 2006 were the third most active underwriter of bonds for European , including UK, corporates. Income from trading activities continued to grow steadily, rising by 15% to £2,379 million as a result of good volumes of debt and risk management products provided to our customers. A strong performance in credit products was supplemented by growth in our broadening product range, including equity derivatives and structured credit, partially offset by the impact of a slower US mortgage-backed securities market. Average trading book value at risk remained modest at £14.2 million. Our rental and other asset-based activities have achieved continuing success in originating, structuring, financing and managing physical assets such as aircraft, trains, s hips and real estate for our customers. This success has driven good growth in income from rental assets, which increased to £1,196 million from £1,074 million. These businesses also generate value through the ownership of a portfolio of assets which we manage actively. Good results from these activities, as well as from principal investments where we work with our corporate customers and with financial sponsors, leveraging our financial capability to structure and participate in a wide variety of investment opportunities, were reflected in other operating income, which increased to £1,280 million from £744 million in 2005. We have maintained good cost discipline while continuing to invest in extending our geographical footprint, our infrastructure and our product range. Total expenses grew by 22% to £2,951 million. Variable performance-related compensation increased and now accounts for 41 % of total costs. Portfolio risk remained stable and the corporate credit environment remained benign. Impairment losses fell to £85 million, with the distribution of impairments over the course of the year reflecting recoveries in the first half. Average risk-weighted assets grew by 11% and the ratio of operating profit to average risk-weighted assets improved from 2.6^ to 2.9%.
2006 compared with 2005 Citizens grew its total income by 2% to £3,317 million, while its operating profit rose slightly to £1,582 million. I dollar terms, Citizens total income
increased by 3% to $6,115 million and its operating profit before tax by 2% to $2,917 million. We have achieved good growth in lending volumes, with average loans and advances to customers increasing by 10%. In business lending, average loans excluding finance leases increased by 15%, reflecting Citizens' success in adding new mid-corporate customers and increasing its total number of business customers by 4% to 467,000. In personal lending, Citizens increased average mortgage and home equity lending by 14%, through the mortgage market slowed in the second half. Average credit card receivables, while still relatively small, increased by 19%.
Impairment losses totaled £181 million ($333 million), representing just 0.31 % of loans and advances to customers and illustrating the prime quality of our portfolio. Underlying strong credit quality remained unchanged as our portfolio grew, with risk elements in lending and problem loans representing 0.32% of loans and advances, the same level as in 2005. Our customer lending is to prime customers with average FICO scores on our portfolios, including home equity lines of credit, in excess of 700, and 95% of lending is secured.
Capital Resources Upon adoption of IFRS by listed banks in the UK on 1 January 2005, the Financial Services Authority (&quot;FSA&quot;) changed its regulatory requirements such that the measurement of capital adequacy was based on IFRS subject to a number of prudential filters. The data as at 31 December 2006 and 2005 set out below has been presented in compliance with these revised FSA requirements.
It is the Group's policy to maintain a strong capital base, to expand it as appropriate and to utilize it efficiently throughout its activities to optimize the return to shareholders while maintaining a prudent relationship between the capital base and the underlying risks of the business. In carrying out this policy, the Group has regard to the supervisory requirements of the Financial Services Authority (&quot;FSA&quot;). The FSA uses Risk Asset Ratio (&quot;RAR&quot;) as a measure of capital adequacy in the UK banking sector, comparing a bank's capital resources with its risk-weighted assets (the assets and off-balance sheet exposures are 'weighted' to reflect the inherent credit and other risks); by international agreement, the RAR should be not less than 8% with a tier 1 component of not less than 4%. At 31 December 2005, the Group's total RAR was 11.7% (2005 11.7%) and the tier 1 RAR was 7.5% (2005 - 7.6%).
On or about June 26, 2007, RBS filed its Prospectus Supplement for the Offering
on Form 424B2, which forms part of the Registration Statement and which became effective on June 22, 2007. The Prospectus, which incorporated by reference RSB's 2006 Form 20-F,
contained the following statements:
The combination of RBSG's Global Banking &amp; Markets with ABN AMRO's Global wholesale Businesses is expected to create a leading corporate and institutional business with both scale and global reach, increasing the Group's exposure to high growth markets in Asia and the Middle East in particular.
RBSG believes that the combination of Citizens and LaSalle will create a leading bank in the US, with a good balance between retail and commercial banking.
RBSG believes that ABN AMRO's retail businesses will provide it with opportunities to build businesses in selected countries with large populations and high growth rates, accelerating its wealth management strategy and adding the capability to distribute credit cards and other products.
THE ROYAL BANK OF SCOTLAND GROUP The Royal Bank of Scotland Group plc is the holding company of one of the world's largest banking and financial services groups, with a market capitalisation of £62.8 billion as at December 3, 2005. Headquartered in Edinburgh, the Group operates in the UK, the US and internationally. The Group's operations are conducted principally through RBS and its subsidiaries, including National Westminster Bank Plc, except for the general insurance business (which is primarily conducted through Direct Line Group and Churchill Insurance). Both RBS and NatWest are major UK clearing banks whose origins go back over 275 years. The Group has a large and diversified customer base and provides a wide range of products and services to personal, commercial and large corporate and institutional customers. 49. The Prospectus, however, omitted important information about RBS's exposure to
the credit markets and how the changes in the market were affecting RBS by the time of the Offering, including omitting information about how this exposure could affect the Company's
capital base . The Prospectus further misstated the effect that the ABN AMRO acquisition would have on the Company's capital position and overall operations. 50. The Registration Statement/Prospectus contained untrue statements of material
fact, omitted to state other facts necessary to make the statements made therein not misleading, and was not prepared in accordance with the rules and regulations governing its preparation. 51. The statements above were false and/or misleading because the dislocation in the
financial markets was then having an increasingly severe impact on RBS's business, which significantly increased the risk level of the Company's ADSs. 52. On December 6, 2007, RBS announced it would write down £1.5 billion, the
majority of which was related to the Company's exposure to the U.S. subprime mortgage market. The Company noted that RBS capital ratios at the end of 2007 were expected to be within the Company' s target ranges of 7% to 8% for Tier 1 capital and 11 % to 12% for total capital. 53. Despite repeatedly assuring investors of RBS's strong capital position, in April
2008, RBS launched a record £12 billion rights issue to rebuild the bank's deteriorating balance sheet. 54. The rights offering was necessary due to massive write-downs related to
impairments in the Company's portfolio of debt securities, including mortgage-related securities, and further as a result of the Company' s acquisition of ABN AMRO. 55. On October 17, 2007, a consortium led by RBS, and including Fortis Group NV
of Belgium and Santander Central Hispano SA of Spain, offered to purchase Dutch bank ABN AMRO. As a part of the three-way takeover, RBS agreed to purchase a portion of ABN
AMRO's operations, including its U. S. and cash management businesses , for £71 billion. The company entered into the merger agreement with ABN AMRO on April 22, 2007. Despite the
increasing turmoil, on November 2, 2007, RBS indicated it completed its acquisition of ABN AMRO. 56. Notwithstanding these huge write-downs and the massive rights issuance, RBS's
securities, including the RBS's ADSs, did not decline appreciably due to the Company's assurances that it did not require additional capital. 57. On May 11, 2008, Times Online issued an article entitled &quot;Americans look into
Royal Bank of Scotland sub-prime deals,&quot; which stated in part: THE US Securities and Exchange Commission is investigating Royal Bank of Scotland (RBS) over its exposure to American sub-prime mortgages. The probe was launched in March, and covers the bank's interests in securities backed by sub-prime home loans, as well as residential mortgages written by its US subsidiaries. RBS is cooperating with the investigation - one of dozens launched into the mortgage industry by American regulators since the crisis began to emerge last year. Details of the investigation are buried in the prospectus for the bank's imminent £12 billion rights issue, which will be put to a vote at a shareholder meeting this week. The probe is in addition to an earlier inquiry by the New York State attorney-general - relating to the bank's Greenwich Capital subsidiary - which came to light earlier this year. The documents reveal that`RBS subsidiaries have received requests for information from &quot;various US governmental agencies and self-regulatory organizations&quot; in relation to the sub-prime mortgage crisis. The documents add: &quot;In particular, during March 2008 RBS was advised by the SEC that it had commenced a nonpublic, formal investigation relating to RBS's US sub-prime securities exposure and US residential mortgage exposures. RBS and its subsidiaries are cooperating with these various requests for information and investigations.&quot; Wall Street sources have suggested that at least 40 separate probes have been launched by the SEC into issues stemming from the sub-prime crisis, ranging from insider trading to accounting practices.
A spokesman for RBS declined to comment on the matter beyond what was said in the prospectus. 58. On August 8, 2008, RBS reported it first-ever loss in the Company's 40-year RBS
history as a public company after being forced to take £5.9 million in write-downs.
reported a loss for the first half of 2008 of £691 million compared to a profit of £5.1 billion a year earlier based on IFRS. This represented one of the biggest losses in British banking history. 59. On October 7, 2008, news began to emerge that the British government was
holding talks with major banks, including RBS, concerning the possibility of government funding. On news of a potential bailout, shares of RBS plunged. 60. Thereafter, on October 13, 2008, in a drastic move to raise capital, RBS
announced a £20 billion capital raising plan. Under the plan, RBS would offer £15 billion in additional ordinary shares. The price for the shares was set at a fixed price per share; the fixed price represented a discount to the closing price for the Company's shares on October 10, 2008. The new shares would be underwritten by the British government. The government further
committed to purchasing up to £5 billion of the new shares if investors failed to purchase shares
in the offering.
61. In mid-November 2008, shares of RBS again began to decline, trading at a price
below the fixed offering price of the new shares . By the date of the offering, the price of the new shares was set at a 28% premium to the price of RBS's existing shares. As a result, investors rejected the offering, purchasing only 0.24% of the total number of new RBS ordinary shares, forcing the British government to purchase a majority of the newly issued shares. 62. Then, on November 28, 2008, RBS announced that the government would take
majority control of the bank, buying a 57.9% stake in the Company.
Following the Offering, the preference shares traded close to the $25 per share As the truth began to emerge regarding the Company's
offering price for several months .
deteriorating financial condition , the Company's ADSs began to decline.
64. On January 19, 2009, RBS shares tumbled over 40% after the bank said it could
report the U.K.'s biggest ever annual corporate loss of up to 28 billion pounds ($41.6 billion) and also restructured its recent government rescue package. The stock is down over 92% since the start of 2008. 65. Macquarie Securities analyst Robert Sage noted in a research note that RBS'
outlook remains highly uncertain and that &quot;[w]ith falling revenues, rising impairments and downsizing, the probability of a further significant loss in 2009 is in our view very high.&quot; 66. The true facts which were omitted from the Registration Statement were: (a) Defendants' portfolio of debt securities was impaired to a much larger
extent than the Company had disclosed; (b) (c) Defendants failed to properly record losses for impaired assets; The Company' s internal controls were inadequate to prevent the Company
from improperly reporting its debt securities; (d) The Company's participation in the consortium which acquired ABN
AMRO would have disastrous results on the Company' s capital position and overall operations; and (e) The Company' s capital base was not adequate enough to withstand the
significant deterioration in the subprime market and, as a result, RBS would be forced to raise significant amounts of additional capital.
COUNT I Violations of Section 11 of the 1933 Act Aiainst All Defendants 67. Plaintiff repeats and realleges each and every allegation contained above as if
fully set forth herein. For purposes of this Count, Plaintiff expressly excludes and disclaims any allegation that could be construed as alleging fraud or intentional or reckless misconduct, as this Count is based solely on claims of strict liability and/or negligence under the 1933 Act. 68. This Count is brought pursuant to § 11 of the 1933 Act, 15 U.S.C. §77k, on behalf
of the Class, against all Defendants. 69. The Registration Statement was false and misleading, contained untrue statements
of material facts, omitted to state other facts necessary to make the statements made not misleading, and omitted to state material facts required to be stated therein. 70. RBS is the registrant for the Offering. As issuer of the shares, RBS is strictly
liable to Plaintiff and the Class for the misstatements and omissions. 71. The Individual Defendants named herein were responsible for the contents and Each of the Individual Defendants signed or
dissemination of the Registration Statement.
authorized the signing of the Registration Statement or were identified in the Prospectus. 72. The Underwriter Defendants named herein were responsible for the contents and
dissemination of the Registration Statement. 73. None of Defendants named herein make a reasonable investigation or possessed
reasonable grounds for the belief that the statements contained in the Registration Statement were true and without omissions of any material facts and were not misleading. 74. By reason of the conduct herein alleged, each Defendant violated, and/or
controlled a person who violated, § 11 of the 1933 Act.
Plaintiff acquired RBS' ADSs pursuant and/or traceable to the Registration
Statement for the Offering. 76. Plaintiff and the Class have sustained damages. At the time of their purchases of
RBS' ADSs, Plaintiff and other members of the Class were without knowledge of the facts concerning the wrongful conduct alleged herein and could not have reasonably discovered those facts prior to mid-2008. Less than three years elapsed between the time that the securities upon which this Count is brought were offered to the public and the time Plaintiff filed this complaint. COUNT II Violations of Section 12(a)(2) of the 1933 Act Against All Defendants 77. Plaintiff repeats and realleges the allegations set forth above as if set forth fully
herein. For purposes of this Count, Plaintiff expressly excludes and disclaims any allegation that could be construed as alleging fraud or intentional or reckless misconduct, as this Count is based solely on claims of strict liability and/or negligence under the 1933 Act. 78. By means of the defective Prospectus, Defendants assisted in the sale of shares of
the Company's ADSs to Plaintiff and other members of the Class. 79. The Prospectus contained untrue statements of material fact, and concealed and Defendants owed Plaintiff and the other
failed to disclose material facts , as detailed above.
members of the Class who purchased RBS' ADSs pursuant to the prospectus the duty to make a reasonable and diligent investigation of the statements contained in the prospectus to ensure that such statements were true and that there was no omission to state a material fact required to be stated in order to make the statements contained therein not misleading. Defendants, in the
exercise of reasonable care, should have known of the misstatements and omissions contained in the Prospectus as set forth above.
Plaintiff did not know, nor in the exercise of reasonable diligence could have
known, of the untruths and omissions contained in the Prospectus at the time Plaintiff acquired the Company's ADSs. 81. By reason of the conduct alleged herein, Defendants violated § 12(a)(2) of the
1933 Act. As a direct and proximate result of such violations, Plaintiff and other members of the Class who purchased RBS ADSs pursuant to the Prospectus sustained substantial damages in connection with their purchases of RBS ADSs. Accordingly, Plaintiff and the other members of the Class who hold such shares have the right to rescind and recover the consideration paid for their shares, and hereby tender their shares to Defendants sued herein. Class members who have sold their shares seek damages to the extent permitted by law. COUNT III Violations of Section 15 of the 1933 Act Against the Individual Defendants 82. Plaintiff repeats and realleges each and every allegation contained above as if
fully set forth herein. For purposes of this Count, Plaintiff expressly excludes and disclaims any allegation that could be construed as alleging fraud or intentional or reckless misconduct, as this Count is based solely on claims of strict liability and/or negligence under the 1933 Act. 83. Defendants. 84. Each of the Individual Defendants was a control person of RBS by virtue of his This Count is brought pursuant to §15 of the 1933 Act against the Individual
position as a director, senior officer and/or major shareholders of RBS which allowed each of these Defendants to exercise control over RBS and Royal Bank and their operations. 85. Each of the Individual Defendants was a culpable participant in the violations of
§11 of the 1933 Act alleged in the Count above, based on their having signed or authorized the
signing of the Registration Statement and having otherwise participated in the process which allowed the Offering to be successfully completed. WHEREFORE, Plaintiff prays for relief and judgment, as follows:
A. Determining that this action is a proper class action, designating Plaintiff as Lead
Plaintiff and certifying Plaintiff as a class representative under Rule 23 of the Federal Rules of Civil Procedure and Plaintiffs counsel as Lead Counsel; B. Awarding compensatory damages in favor of Plaintiff and the other Class
members against all Defendants, jointly and severally, for all damages sustained as a result of
defendants' wrongdoing, in an amount to be proven at trial, including interest thereon; C. Awarding Plaintiff and the Class their reasonable costs and expenses incurred in
this action, including counsel fees and expert fees; D. E. Awarding rescission or a rescissory measure of damages; and Such other and further relief as the Court may deem just and proper. JURY TRIAL DEMAND Plaintiff hereby demands a trial by jury. DATED: January 26 , 2009 FARUQI &amp; FARUQI, LLP
ntonio Vozzolo (AV-8773)
Nadeem Faruqi (NF-1184) FARUQI &amp; FARUQI, LLP
369 Lexington Avenue, 10`h Floor New York , New York 10017 Telephone : (212) 983-9330 Facsimile : (212) 983-9331
GARDY &amp; NOTIS, LLP Mark C. Gardy (MG-0338) James S. Notis
550 Sylvan Avenue #110 Englewood Cliffs, New Jersey 07632 Tel: (201) 567-7377 Fax: (201) 567-7337
CERTIFICATION OF NATALIE GORDON IN SUPPORT OF CLASS ACTION COMPLAINT
Natalie Gordon (&quot;plaintiff') declares, as to the claims asserted under the federal securities laws, that: I. authorized its filing. Plaintiff did not purchase the security that is the subject of the complaint at the direction of plaintiffs' counsel or in order to participate in any private action arising under the federal securities laws. 3. Plaintiff is willing to serve as a representative party on behalf of a class, Plaintiff has reviewed the complaint prepared by counsel and has
including providing testimony at deposition and trial, if necessary. 4. During the proposed Class Period, plaintiff executed the following
transactions relating to Royal Bank of Scotland Series S ADSs:
Purchase of 500 shares at $25.00 per share on 06/25/07 5. In the past three years, plaintiff has sought to serve as a representative
party on behalf of a class in the following action filed under the federal securities laws. Gordon v. Gaming Partners International, Case 2 :07-CV-00448 (District of Nevada) 6. Plaintiff will not accept any payment for serving as a representative party
on behalf of a class beyond plaintiffs pro rata share of any recovery, except such reasonable costs
and expenses (including lost wages) directly relating to the representation of the Class as ordered or approved by the Court. The foregoing are, to the best of my knowledge and belief, true and correct statements. January 2e , 2009
x IN ONE BOX ONLY)
Ing u 28. Removed from State Court u 2b.Removed from State Cou rt AND at least one party Is pro se. u 3 Remanded from Appellate Court
u 4 Reinstated or Reopened u 5 Transferred from ( Specify District ) u 6 Multldistrict Litigation u 7 Appeal to District Judge from Magistrate Judge Judgment
(f-LA UtAM X IN UN arty u 1 U.S. PLAINTIFF
Y) u 3 F
u 2 U.S. DEFEN ANT
5 IS OF JURISDICTION RAL QUESTION DIVERSITY
NOT A PARTY)
CITIZENSHIP OF PRINCIPAL PARTIES (FOR DIVERSITY CASES ONLY) (Place an [)() in one box for Plaintiff and one box for Defendant)
CITIZEN OF THIS STATE PTF [ 11 DEF [ 1 1 CITIZEN OR SUBJECT OF A FOREIGN COUNTRY INCORPORATED or PRINCIPAL PLACE OF BUSINESS IN THIS STATE PTF DEF [ 1 3 1 1 3 INCORPORATED and PRINCIPAL PLACE OF BUSINESS IN ANOTHER STATE FOREIGN NATION
PTF [15
DEF [15
[ 1 4 1 1 4
Natalie Gordon c/o FARUQI &amp; FARUQI, LLP 369 Lexington Avenue , 10th Floor New York, NY 10017 Plaintiff resides in the Nassau County
Please see attached Schedule B
REPRESENTATION IS HEREBY MADE THAT, AT THIS TIME, I HAVE BEEN UNABLE, WITH REASONABLE DILIGENCE, TO ASCERTAIN THE RESIDENCE ADDRESSES OF THE FOLLOWING DEFENDANTS:
Checkone :
THIS ACTION SHOULD BE ASSIGNED TO: u WHITE PLAIN (DO NOT check either box if this a PRISONER PETITION.)
u JHATTAN
DATE 01 /26/2009 SIGNATURE OF ATTORNEY OF RECORD RECEIPT # Magistrate Judge is to be designated by the Clerk of the Court. Magistrate Judge J. Michael McMahon , Clerk of Court by
ADMITTED TO PRACTICE IN THIS DISTRICT [ J NO 11 Yr. 2002 YES Attorn ey Bar, Code AV-8773 '
is so Designated. Db ity^·Glerk, DATED
GUY R. WHITTAKER
RBS, Gogarburn, PO Box 1000 Edinburg EH12 1HQ, Depot Code: 045 Scotland COLIN A.M. BUCHAN c/o THE ROYAL BANK OF SCOTLAND GROUP PLC Business House F, Level 2 RBS, Gogarburn, PO Box 1000 Edinburg EH 12 1 HQ, Depot Code: 045 Scotland JAMES CURRIE c/o THE ROYAL BANK OF SCOTLAND GROUP PLC Business House F, Level 2 RBS, Gogarburn , PO Box 1000 Edinburg EH 12 1 HQ, Depot Code: 045 Scotland SIR STEPHEN A. ROBSON c/o THE ROYAL BANK OF SCOTLAND GROUP PLC
Business House F, Level 2 RBS, Gogarburn, PO Box 1000 Edinburg EH 12 1 HQ, Depot Code: 045 Scotland
RBS, Gogarburn , PO Box 1000 Edinburg EH 12 1 HQ, Depot Code: 045 Scotland PETER D. SUTHERLAND
c/o THE ROYAL BANK OF SCOTLAND GROUP PLC Business House F, Level 2 RBS, Gogarburn , PO Box 1000 Edinburg EH12 1HQ, Depot Code: 045 Scotland
RBC CAPITAL MARKETS CORPORATION RBC Dain Rauscher Plaza Minneapolis, MN 55402
Natalie Gordon, et al. v. The Royal Bank of Scotland Group plc, et al. Gordon-Class Action Complaint For Violations Of Federal Securities Laws
Singapore805-825i
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