RBOS Shareholder Action Group

Options
whatcreditcrunch...
whatcreditcrunch... Posts: 2 Newbie
in Savings & investments
ALL,

considering whether to join above group. For those of you that dont know its to do with reclaiming lost income from during rights issue.

it will cost me £350 to join. any other considered it??

C

Comments

  • FishFan_2
    FishFan_2 Posts: 3 Newbie
    Options
    I'm considering this too.

    If successful, can RBoS_SAG retain reward for themselves only?
    Will they really hide behind a secrecy clause?


    Anyone got any further thoughts on it?

    I'm very reluctant to chuck another £350 at anything RBS related.

    Thank you.
  • mystic_trev
    mystic_trev Posts: 5,430 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Options
    I really wouldn't bother, I think you'll just be throwing good money after bad! The only guaranteed winners are the Lawyers.

    You might be interested in reading the Lloyds Action Now thread.

    http://forums.moneysavingexpert.com/showthread.php?t=2800818

    Three years on and not a great deal of progress.
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
    edited 22 April 2013 at 1:53PM
    Options
    You might also look at the Crown Currency Action Group if you have got a couple of days to read it all.. http://forums.moneysavingexpert.com/forumdisplay.php?f=202
    In summary it got nowhere, and dissolved in acrimony :mad:
    The bankers have gone with our money, always a mile ahead of the politicians. The only people left to repay you is the taxpayer, which is politically unacceptable - it would cost too many votes. (its would also be morally wrong, but that seems to make little difference these days)
    as Trev so rightly says, The only guaranteed winners are the Lawyers
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
  • Fat_Bird_2
    Fat_Bird_2 Posts: 1 Newbie
    edited 25 September 2013 at 10:06AM
    Options
    I made the mistake of sending a cheque for £350 to RBoS Action Group in April 2013. All I've received so far is an email asking for another £100 :(

    Although my cheque was cashed within a matter of days I have received no confirmation of membership and I get no acknowledgement or response to my emails asking for my £350 back :mad:

    [text deleted by MSE Forum Team] Has anyone else had a similar experience, or even had any sort of dialogue with RBoS Action Group?
  • sabretoothtigger
    sabretoothtigger Posts: 10,035 Forumite
    First Post Photogenic Combo Breaker First Anniversary
    Options
    Send the money to me and I'll will personally write a long letter explaining investment risk, open disclosure, arbitrage and many other reasons why you cant get your money back

    If an IFA told you to buy RBS then sue him maybe. If you decided yourself, unless there was a lie somewhere then its doubtful. Thats more in return then a lawyer will ever give you for your money.

    Also if there was a settlement for deception or something, all shareholders would get a cut regardless
  • eildon
    eildon Posts: 29 Forumite
    Options
    Sorry not sure where to post this

    May be somewhere else on the board, but cant find it.

    Have read lots in the papers about the Action Groups final cut off, and that one group has got 'after the event insurance'

    Have thus far not joined any of these groups as part of me thought throwing good money after bad, but now wondering if this is still the right attitude.

    Spoke to one of the groups who said you have to be in a group to get any money, but of course this is not guaranteed, although believe RBS have set aside some funds for this eventuality.

    Don't have a broker or adviser who I can ask, can some of the experts on the board give me some advice.

    Worried if I don't join This could be a mistake and if I do join, could I end up being more out of pocket!!

    Hopefully will get some thoughts from the folks on here who are much more financially aware.
  • planteria
    planteria Posts: 5,321 Forumite
    First Anniversary Combo Breaker First Post
    Options
    i'm not involved, and have never held RBS, but got feeling is that mystic_trev will be right..
    mystic_trev wrote: »
    I really wouldn't bother, I think you'll just be throwing good money after bad! The only guaranteed winners are the Lawyers.
  • Wallpaper151
    Wallpaper151 Posts: 2 Newbie
    Options
    My dad (in his 80's) has signed up with the Shareholders Action Group a while ago but has recently been asked for more money. No idea how much he has paid to date but I have been trying to find out if this is all above board or not. I did read somewhere there was a one off charge of £800. Does any one know what is going on? I am worried he is being taken for a ride.
  • racing_blue
    racing_blue Posts: 961 Forumite
    Options
    whatcreditcrunch... wrote: »
    ALL,

    considering whether to join above group. For those of you that dont know its to do with reclaiming lost income from during rights issue.

    it will cost me £350 to join. any other considered it??

    C

    Lost income, or diluted capital?
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards