Irate AIB shareholders in US must seek compo in Irish courts

IRATE Allied Irish Banks shareholders in the US, furious at the €658 million rogue trading loss by subsidiary Allfirst, have been told to look to the Irish courts for compensation.

In the US, a judge has dismissed a lawsuit seeking to force Allfirst executives and directors to personally repay 658 million lost in the currency trading scandal which rocked the bank last year.

Allfirst, is a subsidiary of AIB and is being sold to M&T Bank Corp (MTB), Buffalo for 3.1 billion.