July 16, 2014:
Prescott Lovern, Sr. has documented evidence that demonstrates CITIZENS FINANCIAL GROUP, INC. (Citizens), owned by ROYAL BANK OF SCOTLAND, which is majority owned by the British Government, filed a fraudulent S-1 Registration Statement with the SEC in May 2014, aided by the SEC’s Division of Corporation Finance, JP Morgan Chase & CO, Davis Polk & Wardwell LLP, Cleary Gottlieb Steen & Hamilton LLP & the British Government et al.
Citizens’ upcoming IPO is nothing but a sham as Citizens and RBS are facing trillions of dollars in undisclosed statutory liability [payable to the victims] associated with credit card Interchange Fees, associated with upcoming litigation known to RBS / Citizens’ management, yet not disclosed as required under 17 CFR 229.303 in RBS’ – 2013, SEC Form 20 F, and the S-1 Registration Statement, or, amended S-1, filed on or about June 20, 2014.
JP Morgan Chase (Chase), Morgan Stanley & Goldman Sachs & Co are listed as the Joint Bookrunners for the IPO. They have full knowledge of the securities fraud and are intentionally looking the other way. Chase is also a defendant in the upcoming consumer Interchange Fee (IF) litigation that has several hundred trillion dollars in statutory damages.
Prescott Lovern, Sr. intends to file a lawsuit in Washington, D.C. to stop the IPO, protecting investors as this is a matter of public concern. He will name SEC employees, Chase, RBS / Citizens’ Executives & Lawyers, law firms mentioned above, and British government officials.