NatWest faces potential legal action over Farage account mishandling By Investing.com

<p> <br />
</p>
<div>
<div>
<img decoding="async" alt="NatWest faces potential legal action over Farage account mishandling" id="carouselImage" src="https://i-invdn-com.investing.com/news/LYNXMPEB0E0CQ_L.jpg" style="visibility:hidden" /><br />
<span>© Reuters. </span><br />
<i class="imgGrad"/>
</div>
<p>Investors of NatWest Group plc are being called to evaluate their legal options as the minority and woman-owned law firm Faruqi &amp; Faruqi, LLP investigates potential claims against the bank. The probe follows a tumultuous period for the UK-based financial institution after an independent review confirmed serious shortcomings in the handling of high-profile customer Nigel Farage’s account closure and a breach of confidentiality.</p>
<p>The review’s findings, disclosed on October 27, 2023, have led the Financial Conduct Authority (FCA) to launch an inquiry into NatWest’s internal controls and governance structures. In the aftermath of these disclosures, NatWest’s stock experienced a significant drop, with shares falling $0.66 (13%) to close at $4.42.</p>
<p>In light of these developments, Faruqi &amp; Faruqi is reaching out to investors who may have been affected by the bank’s alleged failings. Partner Josh Wilson is available to discuss potential investor claims and legal rights at no cost or obligation. The firm’s pursuit of claims includes those unspecified securities purchasers who may have been impacted by NatWest’s actions surrounding account management practices and customer complaint processes.</p>
<p>As the FCA continues its investigation, affected investors are encouraged to explore their legal avenues as the situation unfolds.</p>
<h2>InvestingPro Insights</h2>
<p>In the context of the recent events surrounding NatWest Group plc, investors may find the following InvestingPro insights particularly relevant. Current data shows that NatWest’s market capitalization stands at $22.85 billion, with a notably low Price/Earnings (P/E) ratio of 8.79, which further drops to 3.82 when adjusted for the last twelve months as of Q3 2023. This suggests that the stock may be undervalued, especially when considering the company’s revenue growth of 18.07% over the same period.</p>
<p>Two InvestingPro Tips highlight that NatWest has been experiencing accelerating revenue growth and, despite concerns, analysts predict the company will be profitable this year. These insights could be valuable for investors weighing the potential long-term value of NatWest against the backdrop of recent challenges.</p>
<p>For those seeking a deeper dive into NatWest’s financial health and future prospects, InvestingPro offers additional tips, with a special Black Friday sale now providing up to a 55% discount on subscriptions. With 9 more tips available on InvestingPro, including insights on earnings quality and dividend payouts, investors can make more informed decisions during this turbulent time for the bank.</p>
<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&amp;C.</em></p>
</div>
<p><br />
<br /><a href="https://www.investing.com/news/stock-market-news/natwest-faces-potential-legal-action-over-farage-account-mishandling-93CH-3243104">Source link </a></p><p>The post <a href="https://forextraderhub.com/natwest-faces-potential-legal-action-over-farage-account-mishandling-by-investing-com.html">NatWest faces potential legal action over Farage account mishandling By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>