In the 2007 Annual Report of the Royal Bank of Scotland (RBS) issued in early 2008, it talks about profits before tax up 8%, earnings up 18%, return on equity of 19.9% and an increase in the dividend of 10%. Since then the company has had to undertake a major rights issue to strengthen its balance sheet. But even that was not enough and subsequently the company has received both equity and preference capital from the Government to restore its capital ratios to the FSA's requirements. This has diluted the existing shareholders equity and hence their share of the profits, and there has been an associated restriction on the dividends payable to shareholders. How did they "make it happen" to use the former slogan of RBS? Shareholders would certainly like to know. The RBoS Shareholders Action Group has been formed to look at these issues and to pursue any possible legal action to gain recompense for shareholders, particularly in respect of the rights issue in May 2008. Latest News 17th January 2012 Change in Legal Representation 12th December 2011 The failure of the Royal Bank of Scotland - FSA Report 5th December 2011 RBS - Inside the bank that ran out of money 14th November 2011 Trial Legal Team 8th November 2011 Timetable  to Trial 8th September 2011 Wall Street and RBS got $1.2T in Loans 24th August 2011 Update 26 Progress of Legal Action 7th June 2011 Update 25 Legal Action - Final Cutoff Date RBS Prospectus Rights Issue RBS Results 2010