More than 12,000 private shareholders have launched a potential £4 billion claim against the Royal Bank of Scotland (RBS) and former bosses over its 2008 share issue.
The Royal Bank of Scotland Shareholder Action Group has issued court proceedings against former RBS directors Fred Goodwin, Tom McKillop, Johnny Cameron and Guy Whittaker.
The Action Group believes the bank’s directors sought to mislead shareholders by misrepresenting the financial strength of the bank and omitting critical information from the 2008 Rights Issue prospectus.
RBS, now majority-owned by the tax-payer, received a government bailout in 2008.
New findings suggest people are now divided into seven different classes based on economic, social and cultural measures.
Here are each of the seven different classes:
- Elite - This is the most privileged class in the UK who have the highest levels of income, savings and house values.
- Established middle class - The second wealthiest and largest group of people in the UK fall into this category, accounting for people who score high on all three capitals.
- Technical middle class - A small, prosperous new class group which scores low for social and cultural capital.
- New affluent workers - A young group which is socially and culturally active, with middling levels of economic capital.
- Traditional working class - People who score low on capital but are not "completely deprived".
- Emergent service workers - A new, young, urban group which is relatively poor but has high social and cultural capital.
- Precariat - The poorest, most deprived class in UK.
The British public no longer fit in to just three social classes, a major new study has discovered.
Instead the findings suggest people are now divided into seven different classes based on economic, social and cultural measures.
More than 160,000 people took part in the Great British Class Survey, the largest of its kind in the UK, according to the BBC.
The results prompted researchers to dismiss the established upper class, middle class and working class system, traditionally defined by occupation, wealth and education, as "too simplistic".
The new classes range from the privileged 'elite' to the deprived 'precariat', assessing income, savings, house value and social capital - the number and status of people that someone knows.
The result of a referendum on whether Falkland Islanders wish to remain British was no surprise, and neither was Argentina's decision to ignore it.
Almost everyone who was able to vote did so, and overwhelmingly in favour of keeping the Falkland Islands part of the British territories.
ITV News International Editor Bill Neely reports from Port Stanley:
David Cameron's Office tweeted a picture of the Prime Minister congratulating the Chair of Falklands Legislative Assembly, Gavin Short by phone. Mr Cameron said he was "delighted" that the message from the Falklands was clear, that they are "British through and through".
Nigel Haywood, Governor of the Falkland Islands told ITV News that, "this is a very bright, very lively place with a lot of optimism about he future for the economy of the Islands and the future of the Islands."
Speaking about the Government's response to the poll Mr Haywood said;
"I think the Islanders have never been in any doubt about the strength of support in Britain for the Falkland Islands.
"The Prime Minister and the Foreign Secretary have made that very clear. But it's been very reassuring to have such an immediate response today to the results and that will help the confidence and the optimism of the Islanders for the future."
The Falkland islanders have resisted overt and unhelpful pressure from the Argentinean government in the run-up to this referendum.
However, they have now had the chance to put their views about their sovereignty firmly on the record.
This referendum was a democratic process, overseen by international observers and has now made clear, once and for all, the view of the islanders.
David Cameron has said that he is 'delighted with the Falkland Island result.'
The Prime Minister said, "it's the clearest possible result. The Falklands may be thousands of miles away but they are British through and through. We're there to defend them."
As 99.8% of Falkland Islanders voted in favour of remaining a UK territory, the Guardian's Latin America Correspondent Jonathan Watts said the three people who voted against "would never admit it":
I asked one islander tonight who the Falklands Three (those who didn't vote for UK rule) might be. "No-one will ever admit it," he replied.
A total of 1,517 valid votes were cast, meaning that 92% of the islanders eligible to vote took part.
David Cameron has called on Argentina to respect the wishes of the people of the Falkland Islands after they voted overwhelmingly to remain a British overseas territory.
The Prime Minister said that Argentina should take "careful note" of the referendum result and that Britain would always be there to defend the Falkland Islanders.