Fortis shareholders sue state for €11bn

Shareholders in the Fortis holding company are planning to sue the Dutch state because of its role in the collapse of the company’s share price.

Lawyer Adriaan de Gier says the claim could amount to €11bn. Investors have been inspired by last Friday’s court ruling in Brussels which said shareholders should have been consulted about plans to dismantle the financial services group.
De Gier represents some 1,300 Fortis shareholders. He says finance minister Wouter Bos misled investors twice during the rescue operation.

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