• Company
  • Description
  • Recovery Amount
  • Fortis
  • Fortis
  • Active

 

The Netherlands

G&E represents institutional investors alleging claims under the laws of the Netherlands in a case against Fortis SA/NV (now called Ageas N.V./S.A.) for materially misleading investors by disseminating inaccurate and incomplete information about its solvency, its plan to address its solvency status, and its exposure to the U.S. subprime market in the run-up to Fortis’s purchase of ABN Amro Bank. G&E represents over 180 institutional investors with more than 80 million shares, which is more than 3.5 percent of the Fortis shares that were outstanding at the end of 2008.  A settlement was reached on December 12, 2017, which has been submitted to the Amsterdam Court of Appeals for approval.  If approved, Ageas will pay a record settlement amount of €1.4 billion (nearly $1.7 billion) to an entire class of affected former Fortis shareholders.