Shareholder Class Action

     Wachovia defrauded shareholders by failing to disclose the risk in its acquisition of Golden West, a subprime lender from which Wachovia acquired a portfolio of more than $120 billion in option ARM mortgages, “the most toxic loans being peddled to borrowers,” a class action claims in Alameda County Court, Oakland.

     The Royal Bank of Scotland Group sold RBS Preferred Series T stock through false and misleading statements, shareholders claim in Manhattan Federal Court.

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